Effective U.S. tariff rate on Singapore goods at 7.8% currently, Singapore central bank says
ReutersJul 30, 2025 7:00 AM
SINGAPORE, July 30 (Reuters) - The effective U.S. tariff rate on Singapore's exports is currently at 7.8%, up from 6.8% in April, the Monetary Authority of Singapore said in a report on Wednesday.
The central bank said the increase was due to the doubling of U.S. tariffs on steel and aluminium to 50% in June. Steel and aluminium account for 4.1% of Singapore's exports to the United States.
Earlier on Wednesday, the central bank kept its monetary policy settings unchanged after easing policy at its previous two reviews this year.
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