Overview

• The Singapore government formally launched its economic strategy review on August 4, establishing five committees co-chaired by two ministers and composed of business, academic and social sector representatives.
• The groups will assess global competitiveness, technology and AI adoption, entrepreneurship, worker skills development, and the social impact of economic restructuring before proposing policies by mid-2026.
• The review responds to U.S. President Donald Trump’s tariff hikes, which raised Singapore’s effective export tariff rate to 7.8% in July and set a 10% baseline levy on its goods.
• The Monetary Authority of Singapore maintained its policy settings last week after two rounds of easing earlier in 2025 to gauge the effects of rising trade tensions.
• Singapore’s economy grew 4.3% annually in the second quarter due to frontloaded orders, but authorities expect growth to slow as that boost fades and await detailed guidance on sector-specific U.S. tariffs such as pharmaceuticals.