Singapore negotiating for US concessions on pharmaceuticals, chips

-Singapore is negotiating concessions for pharmaceutical exports to the U.S. while ensuring it still has access to high-end AI chips from the American market, said Trade and Deputy Prime Minister Gan Kim Yong according to a report by The Straits Times. Gan said on Sunday that he had a call with U.S. Secretary of Commerce Howard Lutnick on Friday and Lutnick expressed concern about export controls of chips "not just to Singapore, but generally" and wanted to explore "creative solutions" to strengthen bilateral trade, reported the Straits Times. "We took the opportunity to explain to Secretary Lutnick about Singapore’s export control system and how we have been working together with the U.S. counterparts in this area, to the extent that our law permits," Gan told local media, adding that Singapore does not condone companies taking advantage of their presence in Singapore to undermine U.S. export controls.