Singapore businesses must move strategically to get on winning side of tariff war
To stay ahead, local businesses need to assess exposure and risk, then act to ensure supply chains remain competitive
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THE deluge of latest developments in tariffs announced by the US, and the resulting countermoves from its trade partners, have made global trade more complex and uncertain.
The impact of these changes on Singapore cannot be understated. As Singapore Prime Minister Lawrence Wong put it, the Republic “will take a bigger hit than others because of our heavy reliance on trade”. Businesses in the city-state therefore face an urgent imperative to react strategically.
Implications for local businesses
The changing trade landscape presents both opportunities and challenges for local businesses.
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