Singapore businesses keeping close watch on trade policies under Trump 2.0
Brace for tariff hikes but also stay nimble to take advantage of new opportunities, advise business leaders
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SINGAPORE businesses are keeping a watchful eye on how US President-elect Donald Trump’s second term in the White House could impact global trade policies and business costs.
“We’re closely monitoring potential shifts towards protectionist trade policies, especially those involving increased tariffs on imports,” said Singapore Manufacturing Federation (SMF) president Lennon Tan.
“Singapore’s manufacturing sector is significantly connected to the global supply chain, particularly with the US and China,” said Tan. “Any heightened trade barriers or tariff hikes could indirectly raise costs for our manufacturers and disrupt established supply channels.”
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