US Delays Tariffs on Singapore's Pharma Exports
A planned 100% tariff on branded and patented drugs from Singapore has been postponed.
US and Singapore officials are exploring potential exemptions, as reported by The Straits Times and shared by Reuters.
The tariff, originally set to take effect on October 1, has been delayed to allow stakeholders time to work out a potential deal with the US government.
Gan Siow Huang, Singapore's minister of state, noted that pharma companies are waiting to hear if plans to construct and grow manufacturing services will be enough to exempt them from facing a levy.
The delay comes as the US and Singapore engage in ongoing trade negotiations.
Author's summary: US delays tariffs on Singapore's pharma exports amid trade talks.
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