As a result, DBS Group Research analysts Ling Lee Keng, Jim Au, Andy Yu, Amanda Tan and Sachin Mittal note that the most impacted tech players will be those with exports to the US.
Although Singapore has largely gotten away with the lite version of US president Donald Trump’s “Liberation Day” tariffs, particularly when compared with other countries in Southeast Asia (SEA), some listed technology players with manufacturing footprints spread across the region and beyond will not be so fortunate in escaping unscathed.
While Singapore has made off with a 10% reciprocal tariff imposed by Trump, neighbouring Malaysia will see 24%, followed by Indonesia at 36%, Thailand at 36% and Vietnam at a whopping 46%. Leaders of semiconductor production Taiwan will see 32%, while China, which Trump had identified from the start as the original target will be hit with a 34% tariff, on top of the 20% levy that was previously announced, bringing the total to 54%.
