Trade war

New Trump tariff of 12.5% would cover one-third of Singapore exports to the US: MTI

The new tariffs will replace a 10 per cent global levy under Section 122 when it expires in late July.

ST Explains: What does Trump’s new tariff on ‘forced labour’ mean for Singapore trade?

The proposed forced-labour tariff drew immediate criticism from major economies such as the EU and China, and experts expect lawsuits once it goes into effect.

Singapore could face 12.5% US tariff after forced labour trade probe

ST20260518-202682200463-Lim Yaohui-pixgeneric/ People near the Jubilee Bridge with the Central Business District (CBD) skyline on May 18, 2026. Can be used for stories on family, money, property, land, tourist, tourism, commercial, office, invest, budget, income, finance, financial, CBD, URA, population, and economy. (ST PHOTO: LIM YAOHUI)

US to cut tariffs on agricultural equipment as costs bite

Duty rate on machinery like harvesters, alongside certain other equipment, will be reduced from 25 per cent to 15 per cent.

Carney seeks new US-Canada partnership as world undergoes ‘rupture’

Canadian Prime Minister Mark Carney speaking at the Economic Club in New York on May 28.

Commentary

EU and China risk stumbling into a trade war

The EU and China are sleepwalking into a trade war neither side wants, yet neither knows how to prevent, says the writer.

Singapore keeps 2026 economic growth forecast at 2-4%, citing higher downside risks from Iran war

Despite a weaker economic outlook, MTI maintained its full-year growth forecast due to the economy's better-than-expected performance in the first quarter.

China uses for the first time new rules to counter ‘improper’ foreign jurisdiction over its firms

Beijing on May 2 ordered its firms not to comply with US sanctions on five Chinese refineries accused of buying Iranian oil, including Hengli Petrochemicals (pictured), using rules rolled out in 2021.

China warns EU of retaliation as bloc mulls tougher trade curbs

China said Brussels should “return to the right path of dialogue” with Beijing.

News analysis

Singapore economy can overcome tariff and war risks as global trade continues to grow

Asian economies likely to experience a trade boom as investments in manufacturing surge, analysts say.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.