Businesses need to prepare themselves for US-China trade war fallout: Minister Chan

Singapore

SINGAPORE is not immune to the fallout from the US-China trade war, although it is still too early for the government to assess its economic impact, said Minister of Trade and Industry Chan Chun Sing late on Monday.

Speaking on the sidelines of a maritime security conference, he said that with increased global downside risks, local businesses here must work to prepare themselves to deal with the impending challenges in three key areas.

Firstly, they must be keenly aware of the shifts in global trade flows brought about by the current disruptions from the trade conflict. But the minister emphasised that there are both challenges and opportunities that come from the …