Singapore may be expected to tighten measures after US ‘transshipment scam’ report: economists
MTI stresses that the Republic ‘takes trade compliance seriously’
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[SINGAPORE] After being flagged in a US report on China’s “shadow transshipment network”, Singapore may be expected to take tougher measures on potential trade fraud, said economists.
“Singapore may be asked to tighten measures to enforce rules of origin and step up checks,” Chua Hak Bin, regional co-head of Maybank’s macro research team, said in response to queries from The Business Times.
On Aug 13, the White House named Singapore among 40 lower-tariff markets used by Chinese exporters to evade US tariffs, in The Great Transshipment Scam report.
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