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
Add BT as a preferred source
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.”
TRENDING NOW
Singapore developer in limbo after Timor-Leste’s shock scrapping of major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
US-China summit: Trump sees ‘better’ ties, Xi warns over Taiwan, as talks conclude
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
