REACH (Telegram) 122 - What are your views on Singapore’s response to the new 15% US tariff?
(SK)
23 Feb 2026 (10am - 7pm)
REACH (Telegram)
REACH Singapore, [23/2/2026 9:55 am]
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REACH Singapore, [23/2/2026 10:01 am]
π’ Topic π’
Singapore is likely to fall under a new US tariff of 15% on all imports, DPM Gan said on Sunday, urging the country to prepare for a fundamentally changed global trade environment. The Government will engage its US counterparts to seek clarity on the implementation of a potential new 15% tariff on all goods entering the US from 24 Feb, said DPM Gan.
He noted that if the 15% minimum tariff is applied across the board, it would be very difficult for Singapore to negotiate for exemptions.
π¬ What are your views on Singapore’s response to the new 15% US tariff?
DPM Gan's comments came after US President Donald Trump announced the rate increase from an earlier 10%. Details of how the new tariff will be implemented have yet to be released by Washington.
π Impact of Tariffs
Certain products are excepted from the new tariffs, including energy products, pharmaceuticals and active pharmaceutical ingredients, some electronics and aerospace items, as well as metals used in currency and bullion. Semiconductors and pharmaceuticals are excluded as they may fall under separate Section 232 tariffs, which have yet to be implemented.
Asked for his assessment of the new tariff's impact, DPM Gan said this depended on details of how it was implemented and how the rest of the world will react.
"But I would say that if the tariffs applied across the board, then it doesn't affect the relative competitiveness, and therefore, I think (there will still be) opportunities for Singapore to be able to continue to do business with the US.
But at the end of the day, tariffs also mean higher costs globally, and with higher costs, it will slow down economic investments. It will slow down trade ... and therefore, I think there will be headwinds going ahead. So this is something that we have to always bear in mind."
π Working with Tripartite and Industry Partners
DPM Gan said that the Government will work with its tripartite and industry partners through the Singapore Economic Resilience Taskforce to provide timely information to businesses and workers and gather feedback on how they are affected.
He said that, for now, the measures announced in Budget 2026 are sufficient for local businesses to weather the immediate impact. But it is important for us to continue to help them navigate through this uncertainty and volatility.
Nevertheless, DPM Gan added that it is important for Singapore businesses to keep their options open and consider alternatives. He said companies need to explore new markets, move into higher value-added products and identify sectors where the US may have to grant tariff exemptions.
π Implications on GDP Forecast
On whether the latest move by the US will affect the GDP growth forecast, Mr Gan said the government will relook and revise the forecast if necessary and share it with Singaporeans in time to come.
Singapore's economy is expected to grow by 2 per cent to 4 per cent this year, up from the previous forecast of 1 per cent to 3 per cent.
π https://cna.asia/4tWpbWz
π https://str.sg/MmH2L
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LCL (Danny εΏ), [23/2/2026 10:08 am]
1. Previously US levy 10% tariff on our goods.
2. The rest of other countries are above us, and hence we are more competitive and our trade, transhipment and production plants soar as US many businesses do front loading.
Our GDP also unexpectedly go high up.
Our tax revenue also spike to a very healthy level.
3. But now, everyone is the same baseline 15%.
4. In fact, our tariff have gone up additional 5%, erasing our earlier advantage.
5. I guess our export to US will lose our earlier advantage and could slow down, mathematically saying.
365, [23/2/2026 10:40 am]
The world is getting used to his antics and his tariffs are now just another fact of life. The impact should be softer than when it was first implemented as the world adjusts to it. Whatever they still need, they will still buy, their consumers will just have to pay for it.
LCL (Danny εΏ), [23/2/2026 10:40 am]
1. Business need to look for alternative markets in which we have FTA or new markets that we have yet to penetrate.
2. Business cannot keep relying on US market, which will have plenty of volatility going forward at least for the next 3 years - which is not conducive for business planning.
3. This crisis is a good opportunity for business to look for yet to explore markets that come with certainty.
365, [23/2/2026 10:41 am]
Honestly don't see this as too big a deal now, repeated usage of the same tactics get adjusted for and life proceeds as per normal.
REACH Singapore, [23/2/2026 11:00 am]
[ Poll : 1. I am concerned about the impact of the potential increased US tariff on Singapore. Please share your reasons in the chat. ]
- Very concerned
- Somewhat concerned
- Neutral
- Not very concerned
- Not concerned at all
REACH Singapore, [23/2/2026 11:00 am]
[ Poll : 2. The Government has put in place sufficient measures to support economic growth and strengthen the Singapore economy amidst ongoing global uncertainties. Please share your reasons in the chat. ]
- Strongly agree
- Agree
- Neutral
- Disagree
- Strongly disagree
REACH Singapore, [23/2/2026 11:00 am]
Dear Contributors,
Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference and your vote is anonymous.
We look forward to hearing your thoughts on today’s topic!
π¬ What are your views on Singapore’s response to the new 15% US tariff?
Thank you.
Megan π
LCL (Danny εΏ), [23/2/2026 11:08 am]
1. I think Government got to set aside those drypowder from our budget surplus to help:-
a. Business that likely to be impacted by the new, ever-changing US tariffs - to preserve jobs.
(50,000 companies, 300,000 jobs relying on trade :- Google AI).
b. Additional GST vouchers and CDC vouchers to help individuals and households if cost of food and goods again rise.
(CNY saw many food stalls keeping the food prices unchanged.
But there are food stall who again adjust the food prices upward.
Didn't see any food stalls adjusting the food prices downward).
As food prices are inelastic, once raised, it stick.
To cushion the inflation impact induced by such uncertainty if the needs arise.
Garion Chan, [23/2/2026 12:16 pm]
Agreed. In fact the world economy should start looking and sourcing for other instead of being hooked on the nose the the US. Enough is enough!
LCL (Danny εΏ), [23/2/2026 1:08 pm]
On Trade and Tariffs, the World Is Moving on From the US - Bloomberg.
https://share.google/4no4cgfT6LZrKrbb2
Global Trade Is Leaving the US Behind.
REACH Singapore, [23/2/2026 2:04 pm]
π’ Topic π’
REACH Singapore, [23/2/2026 2:32 pm]
Dear Contributors,
We want to HEAR MORE from you!
π¬ What are your views on Singapore’s response to the new 15% US tariff?
We have had good feedback from this group, and we hope that we can keep the discussion robust and active!
Do also share your opinion by participating in our polls! The poll questions are pinned for easy reference, and your vote is anonymous.
Thank you!
Megan π
REACH Singapore, [23/2/2026 4:03 pm]
π’ Topic π’
LCL (Danny εΏ), [23/2/2026 4:07 pm]
"Trump curious why Iran has not 'capitulated' amid US military buildup, says Witkoff.
US President Donald Trump has ordered a huge buildup of forces in the Middle East and preparations for a potential multi-week air attack on Iran."
Confirm that war will erupt as there is a high chance Trump will launch air attack against Iran.
Wonder how will our commercial flight, maritime shipping lines, travel to Middle East, trade with Middle East be impacted?
Missiles will fly all over Middle East.
This will compound the tariffs change.
And further add complication to our trade.
That is sea route and flight path to Europe and Middle East affected.
Europe - Ukraine war.
Middle East - Iran war.
Then all our goods to Europe go by Africa Cape of Good Hope via air or ship? One big round?
As we cannot go via Europe route and now Middle East route.
https://www.channelnewsasia.com/world/trump-iran-us-military-build-up-why-not-capitulated-5945541#:~:text=Trump%20curious%20why,attack%20on%20Iran.
LCL (Danny εΏ), [23/2/2026 4:23 pm]
Results in higher product prices - as shipping cost, flight costs and insurance cost will go up.
Due to longer travel distance, longer travelling time and higher insurance costs.
Adam, [23/2/2026 4:35 pm]
For singapore to be globally competitive and to rein in COL, should we roll back some green initiatives?
Changi airport already very expensive to fly out of because of all the fees. With the new sustainable aviation fuel, it can raise plane tickets up to 40 dollars.
Also the new recycling scheme will probably hurt our wallets.
Theres trade wars going all around us, we need to take our economic defense seriously. We are small city in big world and need to look out for our survival first or we wont have any loose change to save the environment. Not like these efforts make a dent anyway.
Adam, [23/2/2026 4:38 pm]
Solar and nuclear are good efforts though. Will diversify our energy source and reduce dependence on oil
LCL (Danny εΏ), [23/2/2026 4:43 pm]
In a sign of growing concern over the increased tensions, Poland on Thursday became the latest European country to urge its citizens to leave Iran, with Prime Minister Donald Tusk saying Poles may only have hours to evacuate.
Other EU countries have earlier make similar announcement.
Adam, [23/2/2026 4:45 pm]
On top of that there is whatever thats going on in south america. America probably have to push some resource there
LCL (Danny εΏ), [23/2/2026 4:59 pm]
"According to US Census Bureau data, the US ran a goods trade surplus of US$3.6 billion (S$4.6 billion) with Singapore in 2025, up from US$1.9 billion in 2024."
Now add 15% tariffs on us - how is this fair when the tariff is suppose to reduce their deficit.
But now US is running a trade surplus against us.
https://www.straitstimes.com/business/singapore-to-seek-clarity-from-us-counterparts-on-implementation-of-trumps-new-15-tariff#:~:text=According%20to%20US%20Census%20Bureau%20data%2C%20the%20US%20ran%20a%20goods%20trade%20surplus%20of%20US%243.6%20billion%20(S%244.6%20billion)%20with%20Singapore%20in%202025%2C%20up%20from%20US%241.9%20billion%20in%202024.
REACH Singapore, [23/2/2026 5:06 pm]
Dear Contributors,
Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference and your vote is anonymous.
We look forward to hearing your thoughts on today’s topic!
π¬ What are your views on Singapore’s response to the new 15% US tariff?
Thank you.
Megan π
REACH Singapore, [23/2/2026 6:01 pm]
π’ Topic π’
LCL (Danny εΏ), [23/2/2026 6:26 pm]
They Did Deals With Trump to Get Lower Tariffs. Now They Are Stuck. - The New York Times
https://share.google/CvpqGJhXk5Do0cL5T
They Did Deals With Trump to Get Lower Tariffs. Now They Are Stuck.
Countries that under the threat of tariffs made commitments like enormous investment pledges face the reality that they might have been better off waiting.
Jun Ming, [23/2/2026 6:29 pm]
Ouch a blank cheque
LCL (Danny εΏ), [23/2/2026 6:30 pm]
That's why don't hurry to get into a deal with a devil, the devil will eat you up.
REACH Singapore, [23/2/2026 6:45 pm]
Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan π
LCL (Danny εΏ), [23/2/2026 6:46 pm]
[23/02, 6:43 pm] Anonymous comments: If FTA can be void, why make further commitments.
[23/02, 6:44 pm] ☸️ Danny εΏ: That's why making any deal with Trump and similar personalities that don't respect law or contracts - are like making a deal with a Devil.
REACH Singapore, [23/2/2026 7:00 pm]
Dear Contributors
We will be closing the chat for today.
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan π
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