**Singapore Challenges US Claim of Trade Surplus Amid Probe into Excess Manufacturing Capacity** A trade dispute has erupted between Singapore and the United States over the latter's claim that Singapore has a trade surplus of $27 billion in 2024. In response, Singapore's Ministry of Trade and Industry has disputed the figures, citing its own data which shows a trade deficit of $27 billion. This development comes on the heels of the US Office of the Trade Representative launching an investigation into the manufacturing capacity and production of 16 economies, including Singapore. The investigation aims to identify the root causes of structural excess capacity in various manufacturing sectors worldwide. According to the US Trade Representative, Singapore's bilateral trade surplus with the US in 2024 stood at $27 billion. However, Singapore's Ministry of Trade and Industry claims that this figure is inaccurate, citing data from the US Bureau of Economic Analysis which shows that Singapore had a goods trade deficit of $1.7 billion and a services trade deficit of $25.1 billion with the US in 2024. In addition, the US notice suggested that Singapore is expanding its manufacturing capacity despite declining industrial occupancy rates. However, Singapore's Ministry of Trade and Industry rejected this characterization, stating that industrial space occupancy rates are high, standing at around 90 per cent. This is in line with the country's scarce land and competing needs for industrial use. This trade dispute highlights the complexities of global trade and the challenges of measuring trade balances. It also underscores the importance of accurate data in international trade negotiations. As a major trade hub, Singapore plays a significant role in the global economy, and this dispute has implications for its trade relationships with other countries, including its own trade partners in Africa, Asia, and Europe, and even Naija.