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Trump imposes 10% tariffs on all imports, including from S'pore, China faces 54% tariff

On Liberation Day.

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April 03, 2025, 10:17 AM

US President Donald Trump's much touted “Liberation Day” has seen the imposition of widespread tariffs.

Speaking on Apr. 2 at the White House Rose Garden, Trump announced a slew of tariffs on trading partners.

One of the highest being a 34 per cent tariff on China. Which is in addition to the 20 per cent already imposed.

Here's the full list.

Image from Truth Social/ Trump

Southeast Asian countries saw quite a sizeable amount of so-called "reciprocal tariffs" levied against them.

Cambodia was hit with a 49 per cent tariff, Myanmar 44 per cent, Vietnam 46 per cent tariff, Thailand 36 per cent, Malaysia and Brunei both struck with 24 per cent, and The Philippines 17 per cent.

Singapore was hit with a 10 per cent tariff.

Singapore and the U.S. have a free-trade agreement in place, intended to eliminate customs duties on imports from either country, but this appears superseded by the Trump tariffs.

Trade between the two countries reached US$89.2 billion (S$131 billion) in 2024.

Tariff President

Trump has repeatedly advocated for more tariffs and has appeared to be indiscriminate in his targeting.

Three of the first countries to be hit with tariffs include one long-term rival, China, and two long-term friends, Canada and Mexico.

China has been hit with 20 per cent tariffs, and Canada and Mexico with 25 per cent tariffs.

China's tariff stacks on top of their existing tariff rate, so it will eventually face a total tariff of 54 per cent.

The initial reason for the tariffs on the U.S.’s three largest trade partners was initially said to be due to fentanyl smuggling and illegal immigration, but this appears to no longer be the primary concern.

Trump has also imposed 25 per cent tariffs on automotive imports, supposedly in a bid to protect the U.S. automotive industry and its workers.

Trump has previously said that the “pain” of the tariffs will be “worth it”, while his treasury secretary has compared cheaply imported goods from countries such as China as “baubles”.

Image from Fox News YouTube

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