Singapore unlikely to be hit by direct US tariffs but may still be impacted: Vivian Balakrishnan

5 Feb, 2025

Hariz Baharudin

SINGAPORE – Singapore is not expected to be hit by trade tariffs from the United States, but still stands to be indirectly impacted as it is a small and open economy, said Foreign Minister Vivian Balakrishnan.

Speaking in Parliament on Feb 4, Dr Balakrishnan noted how the US-Singapore Free Trade Agreement has contributed to a tripling of bilateral trade since 2004, allowing the US to consistently maintain a trade surplus with Singapore.

“I do not anticipate us being on the hit list for direct tariffs, because… the United States has a surplus as far as the trade balance with us is concerned,” said Dr Balakrishnan.

Read more: https://www.straitstimes.com/singapore/politics/parliament-singapore-unlikely-to-be-hit-by-direct-us-tariffs-but-may-still-be-impacted