Gan Siow Huang on managing US tariffs for Singapore’s pharmaceutical sector and future investments

The government has been engaging Singapore-based pharmaceutical companies on the impact of US tariffs. Many already have plans to build new capacity or expand their existing facilities in the US and are waiting for further details from the US administration to confirm that their plans would qualify for the tariff exemption. It is also in discussion with the US administration on a preferential tariff arrangement for Singapore’s pharmaceutical exports to the US and will provide an update when it is ready. Minister of State for Trade and Industry Gan Siow Huang, who gave this update in reply to MPs’ questions in parliament on Tuesday (Oct 14), said the five committees undertaking the Economic Strategy Review are developing recommendations on the strategy to grow the economy for the longer term and will provide an update in due course.