US accuses 40+ countries of helping China dodge tariffs

The White House released a report accusing over 40 countries of facilitating a Chinese transshipment network that evades U.S. tariffs, costing the U.S. an estimated $19 billion to $26 billion annually in lost revenue.

Countries including India, Singapore, Thailand, and Malaysia were named as key nodes in the network.

Singapore's Ministry of Trade and Industry responded by stating it takes trade compliance seriously and will take firm action against businesses that break the law.

The report has heightened trade tensions and could lead to new penalties against the implicated countries.