Businesses in Singapore — one of the most trade-exposed economies in the world — have been watching the fallout from Donald Trump's 'Liberation Day' tariffs with apprehension.

The city-state got off relatively lightly in the Trump tariff lottery: like Australia, it only faced a "baseline" tariff rate of 10 per cent in the new era of global trade.

Also like Australia, the imposition of any tariff at all was despite the fact that it has a trade surplus with the United States, and a free trade agreement.

But there has been uncertainty since the general tariffs were announced in April about the fallout from the new world order on the entrepot economy, and about the impact of sector-specific tariffs.

Singapore PM wary of tariff fallout

Those concerns came to a head when the US administrati

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