After the leeway provided in 2025, will 2026 be the time to tighten belts?

UNCERTAINTY has been the theme throughout 2025. Yet on several fronts, things have worked out better than expected for Singapore – or, at least, they could have been worse.

Much of the uncertainty, of course, began in January when US President Donald Trump threatened to levy tariffs on other countries.

In the ensuing months, the size, extent and timing of these tariffs continued to fluctuate. Uncertainties still linger over threatened sectoral duties on semiconductors.