The Singapore Business Federation (SBF) has welcomed the formation of a National Task Force, led by the Ministry of Trade and Industry (MTI), to assess the business impact of the latest reciprocal tariffs and develop response strategies.  This comes in the wake of new US tariffs and China’s retaliatory measures, which SBF described as deeply concerning for the business community. SBF CEO Kok Ping Soon said the task force is a timely move, particularly given the uncertainty and disruption already voiced by businesses.  Although Singapore is subject only to the 10% minimum base tariff under the US regime—the most favourable rate—the broader effects of higher tariffs imposed on economies like Malaysia, Indonesia, and China are expected to ripple through Singapore’s economy. Bottom of Form Kok added that a broader trade war could negatively affect Singapore’s economy, where the trade-to-GDP ratio exceeds 300%.    https://sbr.com.sg/economy/news/sbf-backs-task-force-assess-tariff-impact-business (ICE SINGAPORE)

Fonte notizia: Singapore Business Reviews, 10 April 2025