US President Trump signed an executive order imposing reciprocal tariffs ranging from 10% to 41% on 69 global trade partners, with Singapore, not on the list, facing a 10% tariff. The tariff rate on Singapore remains the same as announced in April this year.

Asian and European stock markets generally fell on Friday (August 1), and the three major U.S. stock indices also opened lower, with declines ranging from 1.4% to 2.2% as of 10 PM. Analysts indicate that the latest announced tariff rates from the White House seem arbitrary and do not clarify the tariff situation, potentially failing to boost business and investor confidence.

In the executive order issued on Thursday (July 31), Trump stated: "Although some trade partners are negotiating with the U.S., in my view, the terms they propose are insufficient to address the imbalance in our trade relations or to align with the United States on economic and national security matters." #美国加征关税