Trump tariffs intensify European exporters’ Asean focus, say business chambers in Singapore

April 24, 2025

Tessa Oh & Sharon See

Published Thu, Apr 24, 2025

SINGAPORE – In the wake of US tariffs, Asean is gaining renewed attention from European companies as both an investment location and a source of demand, said business groups.

Nele Cornelis, executive director of the European Chamber of Commerce in Singapore, said: “The current trade environment has led European businesses to pay closer attention to South-east Asia as a strategic growth market.”

Earlier in April, US President Donald Trump slapped a 20 per cent “reciprocal” tariff on the European Union. Though on hold for 90 days from Apr 9, the rate rise makes the US less attractive to exporters – who now seek markets elsewhere.

Read the full article here: https://www.businesstimes.com.sg/international/asean/trump-tariffs-intensify-european-exporters-asean-focus-say-business-chambers-singapore

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