Singapore’s new grant signals the need to adapt to tariffs, not just ride them out

[SINGAPORE] Announced in April, suspended till July, then postponed to August, with sectoral variations on the way – the rollercoaster of US President Donald Trump’s tariff threats hurtles onward, with no clear end in sight.

Even as talks continue over so-called “reciprocal tariffs” and sector-specific ones, countries and companies are prepared for an inescapably changed trade landscape. If nothing else, the US shows no intention of lifting the global 10 per cent tariff that it has imposed unilaterally.

This dual stance of negotiation and preparation was clear in last Thursday’s (Jul 10) press conference by the Singapore Economic Resilience Taskforce, set up in April in response to Trump’s tariffs.