New task force to engage private sector and address uncertainties of US tariffs

It will focus on information sharing, communication and transparency to support business resilience

- Goh Yan Han

A new task force set up to address uncertainties following the announcement of new US tariffs will engage the private sector to better understand their concerns, challenges and potential moves.

Information sharing, communication and transparency will also be a key focus, said Deputy Prime Minister Gan Kim Yong.

DPM Gan, who chairs the task force newly announced by Prime Minister Lawrence Wong, told Parliament on April 8 that the group is still working out its detailed composition and its plan going forward.

PM Wong had announced the new task force during a ministerial statement in response to US President Donald Trump's April 2 announcement of a suite of universal tariffs, including a 10 per cent duty on Singapore. The measures will kick in today.

The new task force aims to help businesses and workers address immediate uncertainties, strengthen resilience, and better adapt to the new economic environment, PM Wong said.

It will comprise the economic agencies, as well as the Singapore Business Federation, Singapore National Employers Federation and the National Trades Union Congress.

Leader of the Opposition and Workers' Party chief Pritam Singh had asked for more details on the task force.

DPM Gan, who is also the Trade and Industry Minister, said the task force will gather information from the ground through private sector representatives, understand the challenges faced by enterprises, and discuss how they can be further supported in navigating these uncharted waters.

The union representatives are included as it is expected that jobs may be affected, though not immediately.