41% of Singapore firms cut US investment amidst uncertainty

A third of these leaders have put a major halt to major investment decisions

A quarter of Singapore-based business leaders said they will pass on tariff costs to customers, amidst pessimism about the chances of a resolution between the US and China in the short term.

“It is worrying that so many Singapore-based and global business leaders feel they have to take such dramatic action to reduce their vulnerability to the geopolitical and technological upheavals of 2025, which they foresee will continue throughout 2026,” Emma Smith, CEO of Sandpiper, said in a report.

Globally, nine in 10 organisations have already passed on, or soon will pass on, additional costs from tariffs to customers, according to a Sandpiper survey.

Furthermore, Singapore business leaders reduced their investment exposure in the following markets: US (41%), China (38%), EU (31%), and elsewhere (13%).

“Most appear pessimistic about their prospects in the short-, medium- and long-term future, and increasing numbers are worried about the impact of Artificial Intelligence on their firms,” Smith said.

“It is crucial that business leaders, and especially corporate affairs teams, manage their way through these turbulent times and find new sustainable footings for their firms,” she added.

A third of these leaders also stated they have put a major halt to major investment decisions, whilst 17% have also imposed a hiring freeze.

“Asked in the week before and the week of the meeting between Presidents Trump and Xi, more than half, 55%, think it will take at least six months for the two sides to reach any kind of sustainable trade deal, with another 5% believing they will never reach such an agreement,” the report stated.