Singapore businesses list rising costs and tariffs as their biggest challenges

For businesses in Singapore, such as skincare chain Kskin, the global trade environment has become more challenging in recent years as a result of hurdles ranging from rising costs and US tariffs to fast-changing regulations. Kskin began venturing overseas in 2023 and has opened outlets in Malaysia, the Philippines and the US. Due to the tariffs, the costs of Kskin’s equipment and products have risen in recent months. Brian Ng, the firm’s director, told This Week in Asia: “Our margins [at...