SINGAPORE: About one-third of Singapore’s home exports to america might be affected by the Trump administration’s potential new tariffs of 12.5 per cent, beneath a commerce measure linked to a US investigation into compelled labour enforcement.
Singapore’s Ministry of Commerce and Business (MTI) mentioned on Thursday (Jun 4) that it’s assessing the potential influence of the proposed measures and can proceed to interact Washington’s Workplace of america Commerce Consultant (USTR).
Earlier this week, the USTR revealed the findings of its Part 301 investigation into 60 economies over their alleged failure to implement bans on imports of products produced with compelled labour.
It concluded that 54 of those economies, together with Singapore, China and Britain, “didn’t impose and successfully implement a compelled labour import prohibition”, and proposed a 12.5 per cent tariff on sure items.
The proposed duties would apply to a portion of affected exports, with exemptions protecting classes resembling power merchandise, pharmaceutical substances, sure electronics and semiconductors.
In response to CNA’s queries, MTI mentioned: “The Ministry of Commerce and Business will proceed to interact the USTR constructively to discover choices on this matter, and is assessing the influence of the proposed actions on Singapore’s exports to the US.”
The ministry reiterated Singapore’s place that it doesn’t condone compelled labour in provide chains and maintains a complete home enforcement framework towards such practices. It additionally mentioned there is no such thing as a proof of Singapore’s involvement in provide chains linked to compelled labour.
“Pressured labour is a transnational difficulty that requires worldwide cooperation,” mentioned an MTI spokesperson, including that Singapore had conveyed its place throughout bilateral consultations with the USTR.
