A new report by AmChamSG, in collaboration with BowerGroupAsia Singapore and PwC Singapore, reveals that U.S. tariffs are causing uncertainty for businesses, with over 70% of respondents anticipating negative impacts on operations. Many companies plan to pass on costs to consumers or diversify supply chains in response.
SINGAPORE, 2 APRIL 2025 – The American Chamber of Commerce in Singapore (AmChamSG), in collaboration with BowerGroupAsia Singapore and PwC Singapore, has released a new report, “Navigating Tariffs: Insights from AmChamSG Flash Survey.” The findings reveal that a significant majority of businesses in Singapore are concerned about the impact of U.S. tariffs on operations, supply chains, and investment decisions.
The survey, conducted among AmChamSG members, aims to provide insights into how companies are navigating the evolving trade landscape and responding to new tariff measures.
Key Survey Findings:
- Escalating concerns: Over two-thirds of respondents believe reciprocal tariffs pose a greater challenge than existing trade restrictions.
- Business impact: While 20% of companies foresee no direct consequences, more than 70% anticipate negative effects on operations.
- Strategic adjustments: Nearly 45% of businesses plan to pass increased costs to consumers, while others are diversifying supply chains or leveraging market shifts to remain competitive.
- Economic outlook: 90% of respondents believe the tariffs will harm the U.S. economy more than ASEAN or Singapore, with two-thirds stating that tariffs will negatively impact all economies.
AmChamSG’s Commitment to Business Support
Dr. Hsien-Hsien Lei, CEO of AmChamSG, emphasized the uncertainty created by trade tensions and the need for businesses to stay proactive in assessing their risks.
“The findings from our survey show that tariffs and trade tensions are delaying critical business decisions and increasing uncertainty. Even companies that do not yet feel affected should closely monitor their supply chains to prepare for potential rising costs, reduced competitiveness, and supplier disruptions.”
As part of its mission to support businesses in navigating evolving trade policies, AmChamSG remains committed to providing its members with advocacy, industry insights, and strategic guidance.
