With this, the analyst sees investing opportunities in themes such as supply chain relocations, China stimulus and domestic spending.
The tariffs imposed by US President Donald Trump on April 2 or April 3 Singapore time (SGT) may reinforce Singapore’s status as a safe haven, says Maybank Securities analyst Thilan Wickramasinghe in an April 4 report.
Even though the city-state wasn’t spared from the “Liberation Day” tariffs despite a free-trade agreement (FTA), low tariffs on US goods and a trade deficit, Singapore is in a relatively better position compared to the rest of the region. For instance, the Republic will only suffer from the baseline global tariff rate of 10%, while other countries such as Cambodia, Laos and Vietnam will suffer from tariffs of 49%, 48% and 46% respectively, the analyst notes. The tariffs will be implemented on April 5.
