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Singapore

US Revised Tariffs (%)

10

Ease of doing business

theboardiQ Tariffs Dashboard:

Powering Mutually Beneficial Global Trade.

 

Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1.3
10
10
0
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
46.03
43.2
2.83

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Implications

"As of Sunday, April 20, 2025, here's the latest update on tariffs concerning Singapore: United States Tariffs on Goods from Singapore: Baseline Tariff: A 10% tariff is currently in effect for all goods imported from Singapore into the United States. This baseline tariff was implemented on April 5, 2025.   ""Reciprocal Tariffs"": While the United States announced higher ""reciprocal tariffs"" for many countries based on trade imbalances, Singapore was initially listed with a 10% rate, aligning with the baseline. 90-Day Pause: The U.S. has implemented a 90-day pause on the higher reciprocal tariffs for most countries, including Singapore. This means that for the time being, the tariff rate for Singapore remains at the 10% baseline. US-Singapore Free Trade Agreement (USSFTA): It's important to note that the United States and Singapore have a Free Trade Agreement that came into force in 2004. Under this agreement, tariffs on most goods traded between the two countries were eliminated. The recent imposition of a 10% baseline tariff by the U.S. is a deviation from this zero-tariff arrangement, which has been a point of disappointment for Singapore.   Singapore's Tariffs on Goods from the United States: Singapore is generally a free port with a very open economy. It applies a Most-Favored-Nation (MFN) zero-duty to nearly 100% of its tariff lines, including goods from the United States.   Key Points to Note: Disappointment from Singapore: Singapore's Prime Minister and other officials have expressed disappointment with the U.S.'s decision to impose the 10% baseline tariff, especially considering the long-standing free trade agreement and the friendly relationship between the two countries. They have emphasized that Singapore does not have a significant trade surplus with the U.S. when services are included.   No Retaliation: Despite the U.S. tariffs, Singapore has indicated that it will not retaliate with its own tariffs on U.S. goods and will instead pursue dialogue and engagement. Impact on Singapore's Economy: Analysts anticipate that the U.S. tariffs, even at the lower 10% rate, could negatively impact Singapore's export-driven economy, particularly its manufacturing and wholesale trade sectors, by dampening global demand. The Ministry of Trade and Industry has already downgraded its GDP growth forecast for 2025.   Task Force in Singapore: Singapore has established a national task force to support businesses and workers in the challenges arising from the new U.S. tariffs.   In summary, while the higher ""reciprocal tariffs"" from the U.S. are currently paused for Singapore, a 10% baseline tariff is in effect on Singaporean goods entering the United States, despite the existing free trade agreement. Singapore, in turn, continues to maintain a zero-tariff policy on imports from the U.S."

US Negotiation Strategy

As of 2024, the top imports to the US from Singapore by value are: Pharmaceutical products ($15.27 Billion) Optical, photo, technical, medical apparatus ($5.09 Billion) Commodities not specified according to kind ($4.77 Billion) Organic chemicals ($4.32 Billion) Machinery, nuclear reactors, boilers ($3.98 Billion) Electrical, electronic equipment ($3.06 Billion) Here's a look at which states in the US have manufacturing capabilities in these sectors, along with examples of companies: Pharmaceutical Products: Several states have robust pharmaceutical manufacturing and research sectors:   Indiana: Eli Lilly and Company, Roche Diagnostics, Catalent.   North Carolina: GlaxoSmithKline (GSK), Pfizer, Merck.   Pennsylvania: Teva Pharmaceuticals, Bristol-Myers Squibb, Johnson & Johnson. Other states with significant pharmaceutical presence include New Jersey, Illinois, Kentucky, Tennessee, and Wisconsin.   Optical, Photo, Technical, Medical Apparatus: These high-tech manufacturing areas are present in several states: Massachusetts: Boston Scientific, Medtronic, Philips Healthcare. California: Intuitive Surgical, Abbott Laboratories, Thermo Fisher Scientific. Minnesota: Medtronic, 3M, Abbott Laboratories. Known as "Medical Alley." Other states include Florida, Pennsylvania, and Indiana. Commodities not specified according to kind: This is a broad category and can encompass various specialized manufacturing. Pinpointing specific states and companies is challenging without more precise product details. However, states with strong advanced manufacturing sectors are more likely to be involved. Organic Chemicals: The chemical industry is widespread in the US: Texas: Dow Chemical, ExxonMobil, LyondellBasell. Louisiana: BASF, Westlake Chemical, Air Products. New Jersey: DuPont, Celanese, Solvay. Other states with significant chemical manufacturing include California, Illinois, Ohio, and Pennsylvania. Machinery, Nuclear Reactors, Boilers: This sector has a significant footprint in the industrial Midwest and beyond: Illinois: Caterpillar, John Deere, CNH Industrial. Ohio: General Electric, Emerson Electric, Lincoln Electric. Wisconsin: Rockwell Automation, Komatsu, Briggs & Stratton. Other states include Texas, California, Pennsylvania, and Indiana. Electrical, Electronic Equipment: This high-technology area is concentrated in several states: California: Apple, Intel, Tesla (also automotive electronics). Texas: Dell Technologies, Texas Instruments, Samsung Austin Semiconductor. Massachusetts: Analog Devices, Raytheon Technologies, General Electric. Other states with a strong electronics manufacturing presence include Oregon, Arizona, and North Carolina.   It's important to note that while these states and companies have the capability to manufacture similar types of goods imported from Singapore, the specific product lines, production volumes, and specialization may differ. Global supply chains are complex, and even within the same sector, companies often focus on niche areas and rely on international trade for certain components or finished goods.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

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Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration

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theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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