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Trump’s threatened tariffs pose a win-lose conundrum for Singapore

US tariffs could hurt demand for Singapore-made goods, although the Republic may emerge as a relative beneficiary of supply chain shifts

Sharon See

Sharon See

Published Wed, Nov 27, 2024 · 05:00 AM
    • A view of the Port of Baltimore in Maryland. Trump's first tariff war caused a rise in outbound Chinese investment, with China's businesses setting up production plants in Vietnam as a workaround.
    • A view of the Port of Baltimore in Maryland. Trump's first tariff war caused a rise in outbound Chinese investment, with China's businesses setting up production plants in Vietnam as a workaround. PHOTO: AFP

    IF DONALD Trump’s intended tariffs dampen world trade, Singapore could be indirectly hurt – but the Republic also stands to gain from resulting supply chain shifts, said economists.

    President-elect Trump intends to slap tariffs on three of the US’ closest trading partners, including China, once he is inaugurated on Jan 20.

    He said on Monday (Nov 25) that he plans to sign an executive order to impose a 25 per cent tariff on imports from Mexico and Canada, as well as an additional 10 per cent on top of existing tariffs on China.

    TariffsUS-China trade

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