Singapore, as a key player in international manufacturing and a hub for high-tech production, faces mounting pressures from shifting investment flows, evolving trade patterns, and rising geopolitical uncertainty.
The US’s efforts to reshore production and Trump’s initiated tariffs will spell changes for Singapore’s manufacturing landscape, find RHB Group Research’s (RHB) analysts Barnabas Gan and Laalitha Raveenthar.
The strategic pivot coming out of Capitol Hill, in the form of major legislative initiatives such as the CHIPS and Science Act and the Inflation Reduction Act (IRA), alongside the imposition and expansion of tariffs on imports reflect Washington’s intention to return the semiconductors, advanced manufacturing, electric vehicles (EVs), and pharmaceuticals sectors back to the US.
