Navigating Trade Tensions: Singapore's Strategic Move for Pharmaceuticals and AI Chips

Singapore is negotiating with the U.S. for easier pharmaceutical exports while ensuring access to AI chips. Trade Minister Gan Kim Yong discussed export controls with U.S. Secretary Howard Lutnick. Pharmaceuticals constitute over 10% of Singapore's U.S. exports. Economic concerns arise ahead of a general election amid a slowing economy.

Singapore is actively engaging in negotiations with the United States to secure concessions for its pharmaceutical exports, simultaneously ensuring continued access to advanced AI chips from the American market. This strategic move was stated by Trade and Deputy Prime Minister Gan Kim Yong.

In a conversation with U.S. Secretary of Commerce Howard Lutnick, concerns were raised over chip export controls. Gan highlighted Singapore's collaboration with U.S. counterparts on export control systems, emphasizing that Singapore does not support companies undermining these restrictions.

With pharmaceuticals making up more than 10% of its exports to the U.S., Singapore seeks essential concessions as it faces a challenging economic climate with looming trade uncertainties. These efforts unfold as the nation approaches its general election amid economic downturn pressures.

(With inputs from agencies.)