Singapore's Top Concerns During Phase 2 (Heightened Alert)

On April 2, 2025, President Donald Trump announced sweeping new tariffs on Southeast Asian imports, citing the need to “recalibrate trade imbalances” and “bring manufacturing back to American soil.” These tariffs vary significantly by country, hitting Vietnam (46%), Cambodia (49%), and Laos (48%) the hardest. Singapore, while facing the lowest rate of 10%, is not exempt, and neither are its consumers.

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