Singapore Warns of Tariff Cascade as Worried Asia Eyes Trump
Singapore, one of Asia’s wealthiest economies per capita, built much of its success on its strategically located port, and it remains a significant exporter of electronics and pharmaceuticals.
Photographer: Aparna Nori/BloombergSingapore’s top trade official warned that a barrage of actions from the US and other countries risks undermining global economic growth, in some of the strongest public comments underscoring concerns in the trade-reliant nation.
“Many of us here in Asia watch with anxiety President Donald Trump’s tariffs on the US’ three largest trading partners, and his plans for more,” Deputy Prime Minister Gan Kim Yong said Wednesday at CNBC’s Converge Live in Singapore. Even if not all of Asia is directly affected, the impact of rising tariffs and trade wars could cause major disruptions to supply chains and slow trade and investment flows, he said.