Trump’s pharma tariffs put Singapore at ‘greatest risk’ among major exporters if no exemptions granted: economists
Without exemptions, the effective tariff rate on the Republic’s shipments could exceed 30%, compared with 4% now
Add BT as a preferred source
[SINGAPORE] The Trump administration’s latest tariff salvo – this time aimed at branded or patented pharmaceutical goods – could hit Singapore particularly hard, economists warned.
On Thursday (Sep 25), Trump announced a 100 per cent tariff on imports of branded or patented pharmaceutical goods from Oct 1, unless a company has already begun construction of a plant in the United States.
Pharmaceutical firms that have broken ground on US facilities will receive exemptions, Trump said.
TRENDING NOW
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Can Vietnam’s small-business backbone survive a compliance squeeze – all at once?
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Not in education, employment or training: Why more Hong Kong youths are opting out of work
