Singapore Seeks Exemptions Amid US Tariffs Threatening $3 Billion Pharma Sector

President Donald Trump has imposed a 100% tariff on branded pharmaceutical imports unless companies build manufacturing facilities in the U.S., sparking concerns among key trade partners including the European Union, Japan, and Singapore. The U.S. administration clarified exemptions for countries and companies with existing trade agreements or plans to establish U.S. manufacturing operations. Singapore, whose pharmaceutical exports to the U.S. total about $3.1 billion and constitute 13% of its exports to the U.S., is actively engaged in trade discussions to secure exemptions or preferential terms to mitigate the impact of these tariffs. Deputy Prime Minister and Trade Minister Gan Kim Yong highlighted ongoing negotiations with U.S. Commerce Secretary Howard Lutnick, emphasizing a desire to maintain competitiveness and preserve Singapore’s pharmaceutical and semiconductor sectors. Despite a longstanding free trade agreement with the U.S., Singapore faces increased effective tariffs and is seeking clarity and favorable arrangements to avoid economic disruption. These developments underscore U.S. efforts to boost domestic production while balancing international trade relationships, especially with strategic partners in Asia and Europe.