There's no new US-Singapore trade agreement in 2025 mentioned in recent news or official government reports. The existing US-Singapore Free Trade Agreement (USSFTA), which entered into force in 2004, remains the primary framework for trade between the two countries. The USSFTA eliminates tariffs on virtually all goods traded between the US and Singapore.
Here's a breakdown of the current situation:
Existing Agreement:
The US-Singapore Free Trade Agreement (USSFTA) is in effect and continues to govern trade relations.
No New Agreement:
There are no reports or announcements of a new trade deal between the US and Singapore in 2025.
Focus on Implementation:
The US Trade Representative monitors the implementation of the USSFTA and conducts regular meetings with Singapore to address trade issues, according to the USTR.
Trade Relationship:
The US and Singapore enjoy a strong trade relationship, with significant two-way trade and investment.
Recent Trade Data:
In 2024, US goods trade with Singapore totaled $89.2 billion, with exports of $46 billion and imports of $43.2 billion, according to the USTR.
Therefore, while the US and Singapore have a robust trade relationship, there is no new trade agreement in the works for 2025. The existing USSFTA continues to be the guiding framework.
US trade relations with
Singapore in 2025
The United States and Singapore maintain a close and cooperative trade relationship underpinned by the United States-Singapore Free Trade Agreement (USSFTA), which came into force on January 1, 2004. While this agreement remains in effect, a new development this year has introduced complexities:
Recent Tariffs:
- In April 2025, the US introduced a 10%
baseline tariff on imports from Singapore, despite the existence of the
USSFTA.
- Singapore's trade minister has expressed that the US has been non-committal regarding whether this baseline tariff will remain at 10% in the future.
Key Aspects of the USSFTA:
The USSFTA significantly reduced or eliminated tariffs on most goods traded between the two countries shortly after it came into effect, with some U.S. tariffs phased out over time. According to the International Trade Administration, this agreement has enhanced U.S. exports and competitiveness, providing a high standard of trade liberalization. Benefits for U.S. businesses include zero tariffs on most goods entering Singapore, increased export opportunities in key sectors like medical instruments and microelectronics, and improved market access in services, investment, and government procurement, along with stronger intellectual property protection.
Trade Statistics (2024 Data):
In 2024, U.S. goods trade with Singapore was valued at approximately $89.2 billion, with U.S. exports totaling $46 billion and imports from Singapore at $43.2 billion, resulting in a U.S. goods trade surplus of $2.8 billion.
Beyond Tariffs: Expanding
Cooperation
Despite the recent tariff situation, the U.S. and Singapore are expanding their partnership beyond traditional trade. Initiatives include an annual Critical and Emerging Technology Dialogue focusing on areas like AI and biotechnology, the Partnership for Growth and Innovation (PGI) promoting collaboration in the digital economy and clean energy, a Digital Economic Cooperation Roadmap that includes AI governance, an expanded Climate Partnership on standards and sustainable finance, and a bilateral space dialogue.
In summary, the trade relationship between the United States and Singapore remains strong, supported by the USSFTA, while both nations are also actively increasing cooperation in new and emerging sectors despite recent tariff changes
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Comments
In 1984, I flew to Singapore with my boss, Dennis Hayes, founder of Hayes Microcomputer Products. Dennis spent his time working with the Singapore government to establish a subsidiary in Singapore. I spent my time with local candidates who would become the “starter team” to run this subsidiary. I also learned Ex-Patriot Compensatioand drafted the offer to the Team Manager of this Asian Sales Operation who was an Ex-Patriot US citizen. The new Team had worked together at Mattel and Mattel was closing their operation. Dennis asked me if I liked the Team and I said: “They’re more like us than we are.” They were smart, business focused and family oriented. At the end of my week in Singapore, I was impressed with the Singapore as the “melting pot” of Asia..
Norb Leahy, Dunwoody GA Tea Party Leader
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