Singapore Challenges U.S. Tariffs Amid Trade Dispute

Singapore expresses disappointment over U.S. tariffs on its exports despite a free-trade agreement and trade deficit with the U.S. Trade Minister Gan Kim Yong emphasizes diplomacy over retaliation and highlights talks with the U.S. to resolve concerns. Singapore will review economic forecasts due to the escalating issue.

In a move that has sparked international economic tension, Singapore's trade minister expressed disappointment over the U.S. imposition of a 10% tariff on its exports, despite a free-trade agreement and trade deficit with the United States.

Trade Minister Gan Kim Yong, speaking at a press conference, assured that Singapore would not pursue retaliatory measures but would instead focus on diplomatic dialogue to resolve the issue. He acknowledged the government would reassess economic forecasts in light of the tariff situation.

Despite the strain, Singapore plans to engage with U.S. officials to gain insight into President Trump's concerns. The U.S. had reported a significant trade surplus with Singapore, a sentiment echoed by Gan, who noted the surplus figures and emphasized the need for negotiation.

(With inputs from agencies.)