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Straits Times
16-05-2025
- Business
- Straits Times
Zero tariffs on pharma exports being discussed in S'pore-US trade talks: Gan Kim Yong
DPM Gan Kim Yong said there are also early indications that the US is open to discussing how Singapore can ensure a continued supply of semiconductors to the US. ST PHOTO: GIN TAY SINGAPORE – Preferential, or even zero, tariffs on Singapore's pharmaceutical exports to the United States is a possible concession that has emerged in ongoing talks to navigate trade barriers recently put up by the US to virtually all its trading partners. There are also early indications that the US is open to discussing how Singapore can ensure a continued supply of semiconductors to the US, as well as for the US to continue to supply Singapore with this technology, said Deputy Prime Minister Gan Kim Yong on May 16 at the Ministry of Digital Development and Information at Hill Street. He was providing updates on the progress made by the Singapore Economic Resilience Taskforce (Sert), which he chairs, with the latest meeting held the previous week. As there are already zero tariffs for what Singapore imports from the US, the US instead is seeking for Singapore to ensure a smoother flow of goods as well as secure its supply chains, said DPM Gan, who is also the Minister for Trade and Industry. At the same time, Singapore is deepening ties with like-minded trading partners, such as with fellow Asean member states. One avenue will be the upgrading of the Asean Trade in Goods Agreement (Atiga), which has been in force since 2010 . 'We are aiming to complete the negotiations by (the) end of this month, and this is an upgrade to the trade in goods agreement, which is basically a free trade agreement, to further lower down tariffs and to remove non-tariff barriers so that we can facilitate trade among Asean members. 'This signals Asean members' commitment to deepen our integration and to strengthen our cooperation among our members,' he said. He added that under Atiga, tariffs are very low, if not zero, for most countries. Still, there remains room to reduce non-tariff barriers by improving legacy systems such as customs clearance processes and unstandardised paperwork. Asean has also discussed the possibility of strengthening partnerships with other regional groupings such as the European Union and the Gulf Cooperation Council, he added. 'This will allow us to open up more markets for our exports, and at the same time, to also open up more sources of supply to strengthen our supply chain resilience.' This comes on the back of a special meeting of Asean Economic Ministers convened on April 10, after the Trump administration revealed its tariff plans on April 2. Elaborating on the sectoral tariffs, DPM Gan said the US but have also expressed an openness to discuss what Singapore could do to secure concessions on pharmaceutical tariffs, 'even to the extent of zero tariff for pharmaceutical exports to the US'. 'They want to make sure that with this tariff they are able to secure the supply chain for pharmaceutical supplies.' He added that pharmaceutical exports form a key part of Singapore's exports to the US and that the Government is looking forward to discussing how these conditions can be met, but cautioned that the process would be a 'fairly long journey' as specifics need to be discussed. As for semiconductors, DPM Gan said the US remains keen to see how it can continue to supply Singapore with semiconductor technology to support the Republic's digital economy, semiconductor industries and various critical industries here. The US has not announced details of tariffs on pharmaceutical products or semiconductors yet but had earlier said it intends to do so. The Sert was first announced by Prime Minister Lawrence Wong on April 8, after the Trump administration unilaterally imposed a 10 per cent baseline tariff on most Singapore goods entering the US from April 5. The litany of tariffs sparked a tariff war, notably between the US and China, when the latter retaliated by raising tariffs on US goods . Though global markets heaved a sigh of relief after both nations called a 90-day truce on May 12, the uncertain trade outlook is still expected to weigh on jobs and economic growth here. Although Singapore reported on May 16 that key exports grew at a faster-than-expected pace of 12.4 per cent year-on-year in April, analysts noted that this was driven by the frontloading of shipments amid the tariff reprieves. DPM Gan said the trade performance is 'really no consolation' and a reflection of the uncertainty that remains for businesses. Even though Singapore is able to sell more ahead of time, exports and production can be expected to slow down when export destinations have already stockpiled those items, he said, adding that businesses may also incur storage costs if the tariffs get further deferred or cancelled. 'You have to understand the flow of the economic production and exports to understand the numbers, because otherwise some may get excited about our exports doing well, and all the troubles are over.' He also said that the US has indicated it is not intending to compromise on the 10 per cent 'baseline tariff', which means that it is better for Singapore to discuss what else needs to be negotiated, such as sectoral tariffs. While stopping short of providing an early economic projection, DPM Gan said the withholding of investments as firms seek to wait out the prevailing uncertainty will likely cause a slowdown both in Singapore and the wider global economy. DPM Gan also noted that he had spoken via video call with US Treasury Secretary Scott Bessent earlier in May, as well as meetings with Trade Representative Jamieson Greer and US Commerce Secretary Howard Lutnick before that. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
26-04-2025
- Politics
- Business Times
Singapore election 2025: PM Wong calls on all parties to make it clear that Singapore ‘should never mix religion and politics'
[SINGAPORE] All party leaders should make it clear that mixing religion and politics is unacceptable, said Prime Minister Lawrence Wong on Saturday (Apr 26), a day after the Republic blocked election-related Facebook posts by two Malaysian politicians and a former citizen. 'I am calling this press conference… as prime minister, because it concerns a matter of national interest,' he told reporters at the Ministry of Digital Development and Information. He flagged recent online activity by foreigners who urged Singaporeans to vote along religious lines and cited certain candidates as better able to represent a particular race or religion. These messages targeted Singaporeans and were widely shared, he said. 'That crosses the line.' Singaporeans' views may differ, but citizens cannot allow external actors to exploit these differences 'to weaken us, or to advance their own interests', he added. 'Singapore's politics must be for Singaporeans alone to decide.' Besides foreign influence, he noted other online posts attempting to bring race and religion into politics, such as a proposal that Muslims vote for candidates who are willing to advance religious agendas. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Even if such posts are made by Singaporeans, they should be rejected, he said. 'And were a Christian, Hindu or Buddhist group making the same demand, our response would be the same.' Setting out the dangers of mixing religion and politics, PM Wong said: 'First, it fractures the common space we share as Singaporeans. 'Second, once elections become contests of faith, all communities in our society will end up worse off. Third, external powers will seek to exploit these fault lines to advance their own agendas.' 'Not a partisan matter' Said PM Wong: 'This is not a partisan or party matter.' He invited all party leaders to make their stand clear not just on foreign interference, but two fundamental principles: that identity politics has no place here, and that Singapore should never mix religion and politics. While noting a 'clear consensus' from party leaders on rejecting foreign interference, he called on them to go further. First, while they may not be able to control what others say, parties should 'clearly and categorically reject' any such endorsements. Second, when interacting with people whose positions can undermine national interests, parties should make their stance clear. In such interactions, the PAP makes it clear that it does not agree with and cannot support these positions, said PM Wong. 'And we will state that position clearly with people like that, privately and publicly.' Earlier on Saturday, Workers' Party chief Pritam Singh said that the party does not push any individual's agenda in exchange for support, and that its Malay-Muslim candidates represent all Singaporeans. Singh was addressing a claim by Singaporean Islamic religious teacher Noor Deros, who said that WP's Malay-Muslim candidates had agreed to take up his concerns about the community. Engagement versus identity politics This does not mean that politicians cannot address the needs of different communities, nor talk about race and religion, PM Wong said. His own engagements help the government understand the diverse concerns and needs of Singaporeans, he added. But this is different from identity politics, in which politicians appeal for support on the basis of race or religion, and champion the interest of that group over others. When one group 'jostles' to assert its identity, others will organise and 'jostle back', he added. 'No one wins when this happens.' For more election coverage, visit our GE2025 microsite
Straits Times
24-04-2025
- Politics
- Straits Times
Authorities investigating social media accounts targeting political parties
MDDI is urging the public to be discerning consumers of information, in an advisory that addressed a series of new social media accounts targeting political parties. ST PHOTO: KUA CHEE SIONG SINGAPORE - Internet users who come across online accounts that appear to target different political parties need to be discerning in the kind of information they consume, said the Ministry of Digital Development and Information (MDDI) The authorities, on their part, will continue to keep an eye on the online space to ensure there is no meddling from foreigners. In response to queries, an MDDI spokesman said: 'We will continue to monitor the online space for foreign interference... (We) urge the public to be discerning consumers of information.' The Government will also take action if online content runs afoul of the law. MDDI said: 'We will act on content that is in breach of our laws.' Foreign interference includes 'attempts by foreign actors to manipulate domestic politics through covert and deceptive means, which undermines political sovereignty and harms social cohesion', said the Elections Department (ELD) on its website. 'Singapore's politics should be decided by Singaporeans alone,' it added. The government advisory addresses a series of social media accounts created shortly before Nomination Day, which appear to target different political parties. MDDI said the social media accounts are under probe. The Straits Times found several were linked to Singaporean phone numbers, while others were created with US ones. The content hosted by these accounts portray a candidate in bad light – often falsely, and target a range of political parties in Singapore. Often, the accounts feature fake images created using artificial intelligence, to pass off as accounts belonging to Singaporeans. Checks by ST found at least 20 such accounts, on platforms such as Instagram and Facebook. Law professor Benjamin Ong, who teaches at the Singapore Management University, said these accounts are unacceptable for any democracy, regardless of the political stripes of the persons or parties targeted. He said: 'The phenomenon of 'fake engagement', including creating multiple accounts to make comments or 'like' posts, involves somebody trying to paint a false impression of what people's views are and how popular they are... There is clearly some intent to deceive, and perhaps, to distort public sentiment.' Professor Edson C. Tandoc Jr, who monitors fake accounts on social media as part of his research at the Nanyang Technological University, said orchestrated political attacks using inauthentic accounts to stir negative sentiment have long operated in other countries. He said: 'These posts may not contain outright falsehoods, placing them outside the scope of anti-fake news initiatives.' Join ST's WhatsApp Channel and get the latest news and must-reads.
