Singapore Eyes Tariff-Free Pharma Exports to the US

Singapore and the United States are in talks that could lead to tariff-free pharmaceutical exports from Singapore, according to Deputy Prime Minister Gan Kim Yong. The US is open to offering Singapore preferential or zero-tariff access for pharmaceutical goods as part of ongoing trade discussions.

Singapore and US explore tariff-free pharma trade amid global uncertainty.

Mutual Interests in Pharmaceuticals and Semiconductors

Pharmaceuticals are a major export from Singapore to the US, and this deal could boost trade significantly. In exchange, Singapore may need to ensure secure and efficient supply chains. Talks also include the semiconductor sector, though details are still emerging. Both countries aim to strengthen their tech and digital economies through continued cooperation.

Cautious Economic Outlook Amid Global Uncertainty

Despite the positive momentum, Singapore is keeping its growth forecast at 0–2% due to ongoing global uncertainty, including US-China trade tensions. While a temporary surge in exports was recorded, it’s likely due to front-loading during a tariff pause, not a sign of sustained growth.

Preparing Support for Businesses

To prepare for potential disruptions, the Economic Resilience Taskforce is working on support measures, including enhanced grants, financing options, and job support. These will be deployed if the global situation worsens.

Leadership and Next Steps

A potential Cabinet reshuffle may change the task force’s composition, but Singapore remains committed to closely monitoring developments and supporting affected businesses.

Conclusion

Tariff-free access to the US market presents a strong opportunity for Singapore’s key industries. However, with global trade still in flux, the government is taking a measured and proactive approach to safeguard its economy.