Singapore said the United States has withdrawn an “inaccurate statement” regarding bilateral trade balances that had informed Washington’s decision to launch probes into more than a dozen economies last month.
Gan Siow Huang told lawmakers on Tuesday that Singapore ran a trade deficit with the US in 2024, contradicting earlier figures released by Washington that indicated a trade surplus. The initial US numbers had been used to justify claims that Singapore was contributing to global manufacturing overcapacity.
“The US Trade Representative has since removed their inaccurate statement from its Federal Register notice,” Gan said. “With the US investigations ongoing, we should not speculate on the basis or potential outcomes.”
Singapore, along with other major economies, remains subject to sweeping trade investigations by the US. Authorities said they have submitted updated data and will continue to engage with the US Trade Representative to clarify trade figures and the rationale for the probes.
Analysts note that the correction underscores the importance of accurate trade data in shaping international trade policy and highlights ongoing tensions in global manufacturing and supply chains.
