The Straits Times newspaper reported this development on Tuesday, citing Minister of State for Trade Gan Siow Huang.
Minister Gan did not specify a new implementation date for the tariff during her comments.
These exemptions would depend on whether companies’ plans to build and expand manufacturing capacity meet US criteria.
This rate remains lower than tariffs imposed on other Southeast Asian nations.
The city-state exports approximately S$4 billion worth of pharmaceutical products to the United States annually.
Pharmaceutical products represent about 13% of all Singaporean exports to the United States.
Affected sectors would include semiconductors and consumer electronics alongside pharmaceutical goods.
Singapore’s central bank highlighted this export composition in a July report.
This rise followed earlier tariff hikes on steel and aluminium products.
Negotiations include working toward a preferential tariff arrangement for Singapore’s pharmaceutical exports.
Minister Gan confirmed these ongoing talks in her Straits Times interview. – Reuters
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