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Uncertain global climate will affect trade, investment: SM Lee
The Straits Times
|March 01, 2026
were illegal.
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SM Lee said that while the US administration had responded to the ruling by immediately invoking another law to impose a flat 10 per cent tariff on all countries, Mr Trump changed his mind within a day and raised it to 15 per cent.
SM Lee said: "We watched with concern. But so far, the official US tariff rate is still 10 per cent. So we are relieved, but I think we have to watch very carefully."
The overall climate of uncertainty created by these dramatic twists and turns will dampen the global climate for trade and investment, and for cooperation and prosperity, he added.
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