Survey Reveals Concerns Over Trump's Tariffs

American Chamber of Commerce (AmCham) Singapore highlighted on April 2 that companies are considering diversifying their supply chains to mitigate the impact of new tariffs. This strategy aims to reduce reliance on markets with high tariffs and capitalize on opportunities to outperform slower-adapting competitors.

Key Findings from the Survey

More than two-thirds of the 36 respondents expressed concerns over potential reciprocal tariffs on countries taxing U.S. imports, viewing them as a more significant threat than existing trade measures.

Nearly 70% anticipate a significant or moderately negative impact on their operations due to the new tariffs.

Expert Opinion on the Tariff Impact

Frank Debets, Asia-Pacific customs and trade leader at PwC Singapore, challenges the notion that some businesses will remain unaffected. He suggests that indirect effects, such as impacts on suppliers and customers or retaliatory measures, could still pose risks.

About the Survey

Conducted jointly by AmCham Singapore, BowerGroupAsia Singapore, and PwC Singapore, the survey sheds light on the potential repercussions of the White House's April 2 announcement on sweeping reciprocal tariffs.