War on Washing Machines May Have Early Casualty in Singapore
- Singapore’s GDP growth closely follows world trade volumes
- Slowing trade could impact MAS tightening bets, SMBC says
Trump Riles Asian Trade Partners With Tariffs
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U.S. President Donald Trump’s attack on washing machine imports may end up putting the Singapore dollar through the spin-cycle.
Economic growth in the Asian city state has closely followed year-on-year changes in global trade volumes for almost twenty years, as the nation handles the second highest amount of containers in the world. Any escalation of U.S. protectionism, with Trump seen advocating his “America First” policies at Davos, could have an adverse reaction on investor expectations for Singapore’s growth, monetary policy and the local dollar.