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Singaporeans sentiments towards the new U.S. tariffs on Southeast Asia
On April 2, 2025, President Donald Trump announced sweeping new tariffs on Southeast Asian imports, citing the need to “recalibrate trade imbalances” and “bring manufacturing back to American soil.” These tariffs vary significantly by country, hitting Vietnam (46%), Cambodia (49%), and Laos (48%) the hardest. Singapore, while facing the lowest rate of 10%, is not exempt, and neither are its consumers.
The full breakdown is as follows:
- Vietnam: 46%
- Cambodia: 49%
- Laos: 48%
- Myanmar: 44%
- Thailand: 37%
- Indonesia: 32%
- Brunei: 24%
- Malaysia: 24%
- Philippines: 17%
- Singapore: 10%
- Timor-Leste: 10%
Singaporeans are paying attention
The announcement has not gone unnoticed. According to Milieu Insight's latest survey, polling N=1,015 in Singapore, 75% of Singaporeans were already aware of the new tariffs before participating- an indication of high public attentiveness to global economic developments. Awareness was especially strong among older respondents, with 84% of those aged 55 and above indicating prior knowledge, compared to just 65% among those aged 16 to 24.
Concern runs high, especially among older demographics
The majority of Singaporeans are concerned about how these tariffs might affect their daily lives. 7 in 10 Singaporeans feel different levels on concern, with early a quarter (24%) reported being “very concerned,” while 48% were “somewhat concerned.” Concern levels increase with age- only 12% of the youngest group (16–24) were very concerned, compared to 31% of those aged 55 and above.
This anxiety is closely tied to expectations of a broader economic impact. An overwhelming 83% believe the tariffs will have a negative effect on Singapore’s economy, with 20% predicting a “very negative” outcome.
Everyday goods in the crosshairs
Consumers are bracing for costlier everyday items. Nine in ten respondents believe the tariffs will lead to higher prices- 33% expect prices to increase significantly, and 57% expect a moderate increase. Only 8% expect no impact at all.
Electronics and gadgets (73%), automobiles and transportation (55%), and household appliances (53%) are seen as the most vulnerable categories. Food and beverages (51%) also made the list, especially among younger respondents.
While Singapore’s own tariff rate is the lowest on the list, the country’s highly globalised and trade-dependent economy means the impact won’t be negligible. Many of the countries facing steeper tariffs e.g. Vietnam, Indonesia, Thailand, and Malaysia, are key manufacturing partners or sources of intermediate goods. Supply chain disruptions and ripple effects are expected, particularly in sectors like tech and consumer goods.
Shifts toward local alternatives
In response, consumers are reconsidering their spending habits. Almost half (47%) say they would switch to locally made alternatives, and 21% plan to reduce purchases of imported goods. The move toward local products is more pronounced among older consumers- 55% of those aged 55 and above prefer switching to local, compared to 37% of those aged 16 to 24.
A combined 84% of respondents also said the tariffs would make them more likely to buy locally made products, signaling a potential shift in consumer behavior that could benefit domestic producers.
What Singaporeans expect from businesses and government
Most Singaporeans (59%) expect businesses to pass on higher costs to consumers. Others (29%) hope for promotions and discounts to offset price hikes, while 25% believe companies may absorb some of the costs.
Public confidence in the government’s ability to manage the economic fallout is moderate- 8% expressed strong confidence, and 58% were “somewhat confident.” However, 34% expressed low or no confidence at all.
Singaporeans are also looking to the government for action. Over half (53%) expect new trade negotiations, 45% support subsidies for consumers, and 42% call for expansion of domestic industries. A third (33%) also support temporary price controls on essential goods.
A nation on alert, with pragmatic responses
The survey results paints a picture of a cautious but pragmatic public. Singaporeans are well aware of the potential ripple effects of these tariffs, even at a relatively low 10% rate. They are prepared to adapt- by adjusting their buying habits, exploring local alternatives, and calling for strategic responses from both businesses and policymakers.
The road ahead may be uncertain, but if this early response is any indication, Singaporeans are not passively watching events unfold- they’re already preparing for what’s next.
Methodology: The quantitative study was conducted via Milieu Insight's proprietary survey community with N=1,015 in Singapore, N=1,003 in Thailand, N=1,001 in Malaysia, N=1,015 in Indonesia, N=1,009 in Vietnam, and N=1,000 in the Philippines (N=6,043 overall). The data is representative of the online adult population aged 16 and above. Fieldwork was conducted 4th to 7th April 2025.
