Singapore SMEs brace for choppy trade waters as US tariffs rise to 15%
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[SINGAPORE] Singapore small and medium-sized enterprises (SMEs) exporting to the US will have to rethink their business strategies in response to the latest US tariff developments.
“For the medium and longer term, it is clear that the US – under the Trump administration – is continuing to push for companies to onshore back to the US,” said Ang Yuit, president of the Association of Small and Medium Enterprises (Asme).
“In that respect, SMEs that are exporting to the US must take into consideration their plans, depending on their businesses.” This could be about building manufacturing facilities in the US and concurrently figuring out how supply chains should be structured, he noted.
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