0328 GMT - Negative spillover to Singapore from U.S. tariffs looks likely, CGS International analysts say in a research report. Although Singapore incurs "only" the base tariff rate of 10% on its exports to the U.S., other key Singapore exports to the U.S. will be affected, the analysts say. These include "machinery," such as medical apparatus & precision engineering equipment as well as "ships, boats & other floating structures," the analysts note. Singapore's GDP growth outlook for 2025 could come in at the lower end of the current official forecast range of between 1.0% and 3.0%, the analysts add. CGS International recommends large-cap defensive names--Singtel, CapitaLand Ascendas REIT, Keppel DC REIT and Singapore Technologies Engineering. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 23:28 ET (03:28 GMT)
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