Singapore likely to see 'limited' direct impact from U.S. tariffs: deputy prime minister

Singapore is expected to have a limited direct impact from U.S. tariffs due to a trade deficit with the U.S., although the country’s deputy prime minister Gan Kim Yong warned of potential longer-term effects on supply chains and trade patterns. Despite this, Singapore remains focused on exceeding its economic growth projections and is preparing for any disruptions to the economy. The city-state’s economy heavily relies on trade, with a trade-to-GDP ratio of over 300%, and recent support measures announced in the 2025 budget aim to address cost-of-living pressures and support local businesses, including studying the potential deployment of nuclear power.

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