Asia watches Trump’s tariff turmoil ‘with anxiety’, Singapore trade chief says
Singapore's Deputy Prime Minister Gan Kim Yong has warned that the United States' tariffs on its major trading partners, along with similar actions by other countries, pose a significant threat to global economic growth. Gan expressed anxiety over President Trump's tariffs on Canada, Mexico, and China, emphasizing that these measures, even if not directly impacting all of Asia, could disrupt supply chains and slow trade and investment flows.
Singapore, a nation heavily reliant on open trade and a strategically located port, has closely monitored the US president's tariff policies. The imposition of a 25% US tariff on steel and aluminum imports, coupled with retaliatory measures from other nations and investigations into China's steel exports, underscores a growing trend of protectionism. Gan, also the minister for trade and industry, cautioned that these developments could "significantly set back the growth of the global economy," highlighting the potential for widespread economic disruption.
via SCMP Full Text Feed
Singapore's Deputy Prime Minister Gan Kim Yong has warned that the United States' tariffs on its major trading partners, along with similar actions by other countries, pose a significant threat to global economic growth. Gan expressed anxiety over President Trump's tariffs on Canada, Mexico, and China, emphasizing that these measures, even if not directly impacting all of Asia, could disrupt supply chains and slow trade and investment flows.
Singapore, a nation heavily reliant on open trade and a strategically located port, has closely monitored the US president's tariff policies. The imposition of a 25% US tariff on steel and aluminum imports, coupled with retaliatory measures from other nations and investigations into China's steel exports, underscores a growing trend of protectionism. Gan, also the minister for trade and industry, cautioned that these developments could "significantly set back the growth of the global economy," highlighting the potential for widespread economic disruption.
via SCMP Full Text Feed
