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Singapore's Deputy Prime Minister Heng Swee Keat said that the new tariffs imposed by the United States on drugs may not have an immediate impact on Singaporean pharmaceutical companies. He also mentioned that Singapore might seek to establish a cap on tariff rates similar to the agreement reached between Washington and other countries. Heng, who also serves as the Minister for Trade and Industry, told reporters on Saturday that most pharmaceutical companies in Singapore have already established production capacity in the US or have plans to do so. This may help shield them from the upcoming US pharmaceutical tariffs, and companies are also seeking confirmation on whether they qualify for exemptions. Heng also mentioned that Singapore is in discussions with the US government on semiconductor issues, but declined to provide details due to confidentiality of the negotiations. "The models of the US with South Korea, Japan, and the EU can serve as references as precedents," Heng said when asked about the cap on tariffs. "Whether it will be exactly the same will depend on the discussions and negotiations between the US and Singapore."