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Centre for the Future of Trade and Investment (CFOTI)
U.S. Tariffs and our support for Singapore-based businesses
U.S. Tariffs and our support for Singapore-based businesses
About the U.S. Tariffs and our support for Singapore-based businesses
The Singapore Economic Resilience Taskforce (SERT) was announced by Prime Minister Lawrence Wong on 8 April 2025 as a national-level response to escalating global trade volatility, particularly triggered by the U.S. “Liberation Day” tariff
announcement. The taskforce brings together government agencies, trade bodies, and industry leaders to craft integrated strategies that protect Singapore’s trade interests, strengthen business continuity, and enhance long-term competitiveness.
SERT is chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. The taskforce includes key ministers such as Minister for National Development Desmond Lee, Minister for Digital Development and Information Josephine
Teo, Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng, Minister for Transport and Second Minister for Finance Chee Hong Tat, and business leaders like SBF chairman Lim Ming Yan.
Primary Goals
The primary goals of SERT are to:
- Protect Singapore's trade interests.
- Strengthen business continuity.
- enhance long-term competitiveness.
SERT has been actively engaging companies and workers to navigate the immediate uncertainties arising from the U.S. tariffs and related global developments. The taskforce aims to strengthen resilience and position Singapore to thrive in the new economic landscape.
Playbook for SG Companies
The Centre for the Future of Trade & Investment (CFOTI) team offers a comprehensive playbook designed specifically for Singapore-based companies to navigate the complexities of the U.S. tariffs.
This playbook provides detailed strategies and actionable steps to help businesses mitigate the impact of tariffs on their operations. This playbook will include best practices for supply chain management, tariff classification, and leveraging trade agreements to optimise costs. By following the guidelines in the playbook, Singapore-based companies can enhance their resilience and maintain competitiveness in the U.S. market.
Business Poll Results
In response to recent U.S. tariff changes, the Singapore Government established a National Task Force to address the impact, as announced by Prime Minister Lawrence
Wong on 8 April 2025. Led by Ministry of Trade and Investment (MTI), the task force focuses on engagement, communication, information sharing, and transparency to assist Singapore businesses.
SBF recently conducted a flash business sentiment poll via CFOTI to gauge business reactions to emerging global developments. The insights gathered will support the work of the Singapore Economic Resilience Taskforce (SERT), a national task force set up to help businesses and workers navigate the uncertainties stemming from U.S. tariffs and broader global challenges.
Latest Updates
Staying informed about the latest developments in U.S. tariffs is crucial for businesses to remain agile and responsive. The CFOTI team is committed to providing timely updates and insights on tariff changes, trade policies, and market trends.
Through regular newsletters, webinars, and industry reports, we keep our clients abreast of the most recent information that could impact their operations. By leveraging these updates, Singapore-based companies can proactively adjust their strategies and seize opportunities in the dynamic trade environment.
Reach out to our team
The CFOTI team can be reached out to via the following emails:
| Sub-team | |
| Free Trade Agreement + More | fta@sbf.org.sg |
| International Relations | ir@sbf.org.sg |
MORE INFORMATION
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