Four in five firms expect tariff-related disruption: survey

MNCs expressed greater concern (89%) compared to small and medium-sized enterprises SMEs.

Over 80% of Singapore businesses anticipate a negative impact on their operations over the next six months due to recent changes in US tariffs, according to a flash poll conducted by the Singapore Business Federation.

The findings were released alongside a new practical guide aimed at helping companies respond to shifting trade dynamics.

The poll, which gathered responses from nearly 300 companies across multiple industries, found that 81% of businesses expect some form of adverse effect, with 28% predicting a severe impact.

Multinational corporations (MNCs) expressed greater concern (89%) compared to small and medium-sized enterprises (SMEs), where 78% foresee challenges.

The SBF noted that around half of the companies surveyed have direct or indirect exposure to the US market.

Amongst them, nearly one in five rely on the US for more than half of their annual revenue. MNCs were also found to have a higher level of exposure (62%) than SMEs (50%).

The poll also highlighted that three in four businesses expect revenue declines, whilst half anticipate rising operational costs. SMEs appear to be feeling the pinch earlier, with 40% already affected, compared to 31% of MNCs.

Beyond pricing concerns, companies pointed to currency volatility, supply chain disruptions, and potential retaliatory trade measures as key risks.

Companies are also calling for policy support, including tax relief, financial aid, and regulatory flexibility. About 70% expressed the need for more frequent updates and clearer guidance on evolving global trade regulations and Free Trade Agreement compliance.