SG startups’ love story with the US unfazed by tariff threats
Singapore-based firms have made significant investments in the US in recent years and reaped handsome benefits
Add BT as a preferred source
FOR many brands in Asia, turning to the US to boost sales is a no-brainer. The country is the world’s largest consumer market and often leads to big business for those who have successfully expanded there.
But US president-elect Donald Trump’s threats to impose import tariffs of 10 to 20 per cent across the board – and 60 per cent or more for goods originating in China – could unwind some of the progress made.
If imposed, the tariffs will apply both to finished goods produced overseas and raw materials imported to manufacture products in the US.
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank
About 1 in 7 Singapore families has income of at least S$30k a month; share almost doubled in 5 years
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
