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Reshaping of supply chains will have medium-term impact and may not be inflationary, say analysts
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The verdict is still out on whether consumers, including in Singapore, will bear the costs of more expensive supply chains.
ST PHOTO: GIN TAY
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SINGAPORE – The move by the US to slap new tariffs on US$18 billion (S$24 billion) worth of Chinese imports has put even more pressure on businesses here and elsewhere to strengthen their supply chains.
The US tariffs on Chinese imports from electric vehicles and semiconductors to solar cells and medical products have prompted a logistical rethink as companies seek to shield themselves from geopolitical risks, said Ms Sheana Yue, an economist at Oxford Economics.
