Singapore maintains tariffs on US goods in 2025: report

However, Singapore is vulnerable to a potential 25% US tariff on pharmaceuticals.

Singapore’s tariffs on US goods—and vice versa—will remain unchanged in 2025, according to a report by Natixis CIB. This means Singapore will neither need to lower its tariffs on US goods nor face higher tariffs from the US.

However, Singapore remains among the most vulnerable to a potential 25% US tariff on pharmaceuticals. At the same time, it stands to benefit from the ongoing reshuffling of global supply chains.

According to Natixis CIB, if Trump moves forward with broader tariff measures, the rest of emerging Asia will be negatively impacted, particularly Vietnam, while China could gain a strategic advantage.

Meanwhile, India and Thailand currently have the highest reciprocal tariff differentials with the US.

Currently, only China is subject to Trump-era tariffs, with an additional 20% tariff on top of already high trade and investment barriers. Other Asian countries remain cautious as further trade measures may be introduced in the coming months.

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