In wake of Trump tariffs, Asean exporters should diversify away from US reliance: panellists
For Singapore, the broader risk is from the politicised and unpredictable nature of the trade actions
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[SINGAPORE] Beyond the immediate impact of US tariffs, both Singapore and the wider region must start preparing for deeper shifts in the global trade landscape, said panellists in two recent online seminars.
While US firms are keeping their supply chains in Asean, regional economies should diversify their export markets to reduce their reliance on the US, said speakers at a webinar organised by the European Chamber of Commerce (EuroCham) on Tuesday (Apr 15).
And while Singapore may not be targeted by higher tariffs, the real risk for the trade-reliant city-state is how politicised and inconsistent US trade actions are reshaping the global environment, said participants in a webinar by the Iseas-Yusof Ishak Institute the day before.
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