Although a small city-state , Singapore is the 12th-largest trading partner of the United States , with trade volume of $ 33.4 billion last year .
Singapore is already the United States ' 12th-largest trading partner , with two-way trade totaling more than $ 34 billion .
The U.S. steel tariffs , which Bush imposed in March 2002 , were to officially end at midnight Thursday ( 0500 GMT ) , instead of March 2005 as initially planned .