Trump tariffs intensify European exporters’ Asean focus, say business chambers in Singapore
The region is not just a bright spot for growth and investment, but also an attractive source of demand
Add BT as a preferred source
[SINGAPORE] In the wake of US tariffs, Asean is gaining renewed attention from European companies as both an investment location and a source of demand, said business groups.
Nele Cornelis, executive director of the European Chamber of Commerce in Singapore, said: “The current trade environment has led European businesses to pay closer attention to South-east Asia as a strategic growth market.”
Earlier in April, US President Donald Trump slapped a 20 per cent “reciprocal” tariff on the European Union. Though on hold for 90 days from Apr 9, the rate rise makes the US less attractive to exporters – who now seek markets elsewhere.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
