US Tariffs Boost Trade with Eurozone, Japan, Korea
Published on 8.11.25
The wholesale trade and transportation sectors experienced a boost from front-loading activities ahead of US tariff measures. The US' 90-day tariff truce with several trading partners, including the eurozone, Japan, South Korea, and Southeast Asian economies, led to reduced reciprocal tariffs. As a result, the growth of Singapore's major trading partners in 2H 2025 is expected to moderate from 1H 2025. However, significant uncertainties remain due to US trade policies, particularly sectoral tariffs on pharmaceutical products and semiconductors.