Washington's July 24 tariff, which was imposed on goods valued at S$9.5 billion ($7.4 billion), or about a third of Singapore's exports to the United States, is now in effect. The tariffs come on top of U.S. trade restrictions on economies around Asia and as Singapore considers talks with Washington to ease or lift the tariff. Trade Relationship in FocusSingapore exported about $54 billion in goods to the U.S. in 2025 while importing about $54.6 billion in U.S. goods. When services are included, Singapore recorded an overall trade deficit with the United States of roughly $45.5 billion, according to PwC. Negotiations between Singapore and the United States remain ongoing, and neither government has announced a timeline for a potential resolution.