SINGAPORE, April 26 -- The United States is not prepared to lower its 10 per cent tariff on imports from Singapore, but both countries have agreed to explore ways to deepen their economic ties.

In a LinkedIn post today, Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong said he had a "productive" virtual meeting with US Secretary of Commerce Howard Lutnick on April 25 to discuss bilateral economic and business ties, according to The Straits Times.

"I noted that our bilateral trade and Singapore investments support around 350,000 American jobs, and that the US has enjoyed a consistent trade surplus with Singapore which amounted to US$30 billion (RM131 billion) last year," he said.

Gan added that Lutnick acknowledged the ...