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US tariffs could trigger full-blown global trade war: PM Wong
The Straits Times
|April 06, 2025
US President Donald Trump's recent tariffs might lead to a global trade war if other countries retaliate, Prime Minister Lawrence Wong said on April 5 as he warned Singaporeans to brace themselves for more shocks ahead.
"Today, Singapore stands on a strong foundation, but all of you know that we are entering a world that is going to be more dangerous and unpredictable," he added.
On April 2, Mr. Trump announced a decision to impose a 10 percent tariff on most goods imported into the US from Singapore and key partners, with higher duties for many other countries.
For instance, goods from China were hit with a 34 percent tariff. Beijing retaliated on April 4 with a slew of measures, including a 34 percent tariff on US goods.
"China has already retaliated with its own tariffs, and other countries will soon follow, I am sure. We may well end up with a full-blown global trade war," said PM Wong.
"So, we must brace ourselves for more shocks to come," he added, speaking at the launch of the Marsiling-Yew Tee Masterplan in Yew Tee Square. "In a time like this, it is more important than ever to cherish and to protect what we have in Singapore."
This story is from the April 06, 2025 edition of The Straits Times.
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