US imposes 12.5% tariff on one-third of Singapore exports
About one-third of Singapore's domestic exports to the US are affected, though pharmaceuticals, semiconductors and energy are exempted.
The United States began imposing a 12.5% tariff on some Singapore exports on July 24, affecting about one-third of the country's domestic shipments to the US market. Singapore's Ministry of Trade and Industry (MTI) said the tariff followed a Section 301 investigation by the Office of the US Trade Representative (USTR) into alleged failures by trading partners to enforce bans on imports of goods made with forced labor. Products already subject to Section 232 tariffs, such as steel and aluminum, are exempt. Other exemptions include energy, pharmaceuticals, pharmaceutical ingredients, certain electronics, certain aerospace products, semiconductors, and metals for currency and bullion. MTI said Singapore rejects forced labor and will continue talking with USTR about the tariff's application.