LIKELY HIGH INFLATIONARY PRESSURES AHEAD IN VIEW OF US TARIFFS

08/04/2025

LIKELY HIGH INFLATIONARY PRESSURES AHEAD IN VIEW OF US TARIFFS

Singapore has been hit with a baseline 10 per cent tariff on its goods imported to the US.

Our Asian and South-east Asian counterparts have been badly hit by the tariffs: China has been hit by the highest overall tariffs at 54 per cent, followed by Cambodia at 49 per cent, and Vietnam at 46 per cent. Thailand has been hit by tariffs at 36 per cent, Indonesia and Taiwan at 32 per cent each, Malaysia at 24 per cent, and the Philippines at 17 per cent.

The likely end result will be that the tariffs will affect the prices of the things people here buy, and, eventually, wages and jobs.

If other countries retaliate with reciprocal tariffs, the global supply chain will get disrupted, and then Singapore consumers will face higher prices and Singapore companies will face higher cost pressures.

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