US tariffs could trigger full-blown global trade war: PM Wong

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.

- Chin Soo Fang

"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."