Economy: In a stormy world, Singapore must sail smarter

Prime Minister Lawrence Wong's parliamentary address on the US' sweeping "Liberation Day" tariffs rightly highlights a turning point in global trade – and for Singapore (US tariffs will significantly impact Singapore's growth; Budget 2025 to help in short term: PM Wong, April 8).

- Cheong Tuck Kuan

As a small, open economy deeply dependent on the rules-based global order, we cannot afford to wait and watch.

We must reform, adapt, and lead with renewed purpose.

China describes its economy as an ocean that cannot be affected by tariff storms.

Singapore, by contrast, is a well-built smart ship: small, but brilliantly engineered – agile, precise and resilient.

We do not rely on scale to withstand turbulence. We rely on strategy, speed and the ability to adjust our sails when the winds shift.

To remain economically resilient, we must first diversify beyond traditional trade and logistics.