Singapore’s strategic response to Trump tariffs

LAST week, the Trump administration announced its “Liberation Day” measures through the imposition of tariffs on various countries – particularly China, the European Union and other major trading partners – threatening the multilateral rules-based trading system, disrupting global trade dynamics, risking retaliatory tit-for-tat reactions and unleashing unprecedented uncertainty on the global trading system.

Singapore has not been spared from these tariffs.

As a small, open, trade-dependent economy, Singapore must carefully weigh its options and navigate these protectionist measures to safeguard its economic interests, the viability of the businesses that are based here and the livelihoods of the people who call this Little Red Dot home. This will involve having a resilient mindset and a gumption for shrewdness, spirited initiative and resourcefulness.