Singapore Responds to U.S. 10% Tariff as Non-Negotiable Trade Barrier

Prime Minister Lawrence Wong confirms economic fallout from fixed tariff, announces task force and regional coordination efforts.

Prime Minister Lawrence Wong stated that President Trump's 10% universal tariff is a fixed minimum rate and not open for negotiation, despite Singapore's free trade agreement with the U.S.
Singapore expressed strong disappointment over the tariff, highlighting a breach in the long-standing friendship between the two nations.
The tariff is expected to have significant economic repercussions for Singapore, including potential job losses and downward revisions to GDP growth forecasts, currently projected at 1% to 3% for 2025.
The Singapore government has established a task force, chaired by Deputy Prime Minister Gan Kim Yong, to support affected businesses and workers while avoiding retaliatory tariffs against the U.S.
Singapore is engaging with ASEAN, CPTPP, and other trade partners to formulate a coordinated response and address the broader implications of the U.S. trade policy shift.