Singapore to engage with USTR on Trump's trade probes

(Refiles to fix ‌story links in ​paragraph ​2)

March 12 (Reuters) - Singapore will engage with the Office of the United States Trade Representative (USTR) ‌to seek further clarification on trade data and ⁠section 301 investigations, the country's ministry of trade and industry said ‌on Thursday.

U.S. President Donald ‌Trump's administration launched a new trade investigation on Wednesday into excess industrial capacity in 16 major trading ​partners in a move to rebuild tariff pressure after the U.S. Supreme Court tore down the centerpiece ⁠of Trump's tariff program last month.

According to the USTR’s notice, Singapore is ​highlighted as having a trade surplus of $27 billion with the U.S. in 2024, Singapore's ministry ​of trade said, adding that ‌on the contrary, the country had a total trade deficit of $27 billion with the US ⁠in 2024.

The ministry also said that the country's industrial space occupancy rates are "very healthy" at around 90%, contradicting the USTR ⁠notice which suggested that Singapore has continued to expand manufacturing capacity despite ​a drop in industrial occupancy rates.

U.S. Trade Representative Jamieson Greer has said a "Section 301" unfair trade practices investigation could lead to ‌new tariffs imposed against China, the European Union, India, Japan, South Korea and ‌Mexico by this summer.

Other trading partners subject to the ⁠excess capacity probe include ‌Taiwan, Vietnam, Thailand, Malaysia, ​Cambodia, Singapore, Indonesia, Bangladesh, Switzerland and Norway.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Toby ‌Chopra)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Ukraine's Zelenskiy imposes sanctions on former press secretary
• Trump says 'very negative forces' raising exaggerated concerns over AI
• Anthropic selects Nasdaq for IPO, Business Insider reports