Summary

A US court ruling reduced tariffs on most Asian economies, but Singapore and Australia will face modest increases. Despite this, Singapore retains the lowest trade-weighted tariff rate in Asia. While the tariff relief is likely temporary, Singapore’s fiscal surplus and tariff exemptions for key exports mitigate potential negative impacts.

https://www.straitstimes.com/business/spore-retains-lowest-tariff-edge-in-asia-even-after-us-court-ruling-narrows-the-gap?ref=top-stories