Singapore Seeks US Concessions on Pharmaceuticals, AI Chips

Singapore is actively negotiating with the United States for trade concessions on pharmaceutical exports, which account for over 10% of its shipments to the U.S., amid the imposition of a 10% U.S. tariff despite an existing free trade agreement. Deputy Prime Minister Gan Kim Yong discussed the issue with U.S. Commerce Secretary Howard Lutnick, emphasizing Singapore's desire for concessions while also ensuring continued access to advanced American AI chips. Both sides have expressed willingness to strengthen economic cooperation, with Singapore explaining its export control system and reaffirming its commitment to U.S. regulations. The talks occur in the context of U.S. President Donald Trump's protectionist policies and ahead of Singapore's upcoming general election, as the country faces a downgraded GDP outlook and potential economic headwinds.