Singapore has been given a new 12.5 per cent US tariff over allegations linked to forced labour enforcement — a move that raises fresh questions for one of America's closest trading partners in Asia.

Although some of Singapore's biggest exports remain exempt, the new tariffs will still affect a sizeable share of goods heading to the US.

So what does this mean for businesses operating here? Can Singapore shield itself from the fallout? And as global trade becomes increasingly shaped by geopolitics, how should a small, open economy navigate the road ahead?

On The Big Story, Hongbin Jeong speaks to Dr Jayant Menon, Senior Fellow at the ISEAS-Yusof Ishak Institute in Singapore, to find out more.