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Singapore’s exports likely to slow as front-loading to pre-empt Trump’s tariffs is set to fade

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Analysts said re-exports have surged in transshipment hubs such as Singapore, which is subject to a 10 per cent baseline tariff.

Analysts said re-exports have surged in transshipment hubs such as Singapore, which is subject to a 10 per cent baseline tariff by the US.

PHOTO: ST FILE

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SINGAPORE – An unusual spike in exports from Singapore and other Asean countries, prompted by fears of higher tariffs threatened by US President Donald Trump, may have run its course.

Analysts believe

the record plunge in US imports in April

is a telltale sign of what is in store for export-driven economies like Singapore. Japanese investment bank Nomura expects a double-digit decline in export growth across Asia in the second half of 2025.

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