US removes inaccurate statement on Singapore trade

US removes inaccurate statement on Singapore trade


SINGAPORE – The US government has removed an official statement that wrongly claimed that Singapore had a bilateral trade surplus with the US, Minister of State for Trade and Industry Gan Siow Huang said on April 7.

She added that the Government will be attending upcoming public hearings on investigations under Section 301 of the US Trade Act, which will be held from May 5 to 8 in Washington.

Singapore was named in a Section 301 probe launched by the Office of the US Trade Representative (USTR) on March 11 against more than 16 major economies, focused on alleged excess manufacturing capacity.

The Republic is also involved in a second unfair practices probe, which the trade agency initiated into 60 economies on the importation of goods produced with forced labour.

The USTR’s Federal Register Notice had highlighted Singapore as having a bilateral trade surplus with the US in both goods and services, amounting to US$27 billion (S$34.7 billion) in 2024.

The Ministry of Trade and Industry (MTI) had said it would reach out to clarify the trade data, because Singapore actually recorded a deficit of the same amount.

Ms Gan said in Parliament on April 7: “The US trade rep has since removed their inaccurate statement from its Federal Register Notice.”



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