
SingPost holds tariff at 10% while awaiting Trump's decision
SingPost holds tariff at 10% while awaiting Trump's decision
- SingPost will maintain a 10% tariff on goods sent to the US until a higher rate is formally instated.
- This tariff situation follows a US Supreme Court ruling against previous tariffs invoked under the IEEPA.
- SingPost is actively monitoring the tariff situation and will provide updated information as necessary.
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Singapore Post, commonly known as SingPost, announced that it would keep the tariff for goods shipped to the United States at 10 percent until a proposed increase to 15 percent is officially implemented. This decision comes in the wake of changes to tariff regulations following a ruling by the US Supreme Court that deemed previous tariffs enforced under the International Emergency Economic Powers Act (IEEPA) unconstitutional. The new global tariff, effective from February 24, is capped at a maximum of 15 percent for 150 days, requiring further congressional approval for any extensions. President Donald Trump had announced his intention to raise the tariff rate from the current 10 percent to 15 percent during a social media post made on February 21, though the official executive order needed for this change had yet to be signed by him at that time. SingPost specified that it, along with other carriers like DHL, would hold the tariff at 10 percent until official guidance is received from US Customs and Border Protection. The tariff is set to affect packages valued under $800, which can enter the US duty-free according to the 'de minimis' exemption before August 29, 2025. Additionally, SingPost clarified that they would not be able to issue refunds for tariffs collected under the old rate, as their role is simply to facilitate the collection on behalf of the US Customs. The company is actively monitoring the situation regarding tariffs and plans to provide ongoing updates to its customers as developments occur.