Singapore Pushes Back as US Levies Hit on Forced-Labor Claim

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Or sign-in if you have an account.Singapore Foreign Minister Vivian Balakrishnan at the ASEAN Foreign Ministers' Meeting in Metro Manila, Philippines on July 23. Photographer: Noel Celis/Pool/Getty Images Photo by Pool /Getty Images(Bloomberg) — Singapore’s top diplomat said there was no economic justification for the US to impose tariffs on the city-state, adding that it seeks to avoid becoming “collateral damage” in Washington’s broader trade policy.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountSpeaking at the ASEAN Foreign Ministers’ meeting in Manila, Vivian Balakrishnan said he made the case during a “robust” discussion with US Secretary of State Marco Rubio. He had stressed that the US runs a trade surplus against Singapore, the foreign minister told reporters Thursday, according to a transcript released by the ministry.His comments came hours before the US imposed levies on most trading partners following an investigation into the alleged failure of around 60 economies to prevent forced labor in their supply chains to the detriment of American workers. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe latest duties stem from a US Trade Representative probe under Section 301 of the Trade Act of 1974. About one-third of Singapore’s exports to the US will be subject to the 12.5% tariff, according to a statement from the Ministry of Trade and Industry on Friday. Energy, pharmaceuticals and semiconductors are among the products granted exemptions.“Singapore is not a target of the US — not at all,” Balakrishnan said. “But we also need to make sure we don’t become collateral damage in the overall scheme in which tariffs are going to be raised by the US with all its trading partners.”The MTI said it would keep engaging with Washington to explore options on the matter. Earlier this month, it told the USTR that there is no evidence of its role in the supply chains of goods associated with forced labor exported to the US. Forced labor is criminalized in Singapore.The city-state is subject to a separate raft of Section 301 investigations, including a review of US trading partners’ excess manufacturing capacity, the findings of which may also be released soon. DBS Bank Ltd. senior economist Chua Han Teng said the tariff exemption for certain electronics and chips should allow Singapore to keep riding the artificial-intelligence wave that’s driven its exports and overall economic growth.However, the 12.5% levy would weigh on non-electronics, non-oil domestic exports to the US, which have already been underperforming, he noted.“Singapore’s exporters and the economy will need to continue navigating an increasingly protectionist global landscape, even though they have demonstrated resilience over the past year,” Chua said.(Updates with statement from trade ministry, comment from analyst)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.