Singapore will not impose retaliatory tariffs on the US: DPM Gan
Singapore has said it will not impose retaliatory tariffs on the US, despite being allowed to do so under a bilateral free trade agreement. Singapore was not immune to Washington's blanket 10% tariffs, despite the US having a $30-billion trade surplus with the nation. Reacting to the far-reaching tariffs, Singapore Deputy Prime Minister Gan Kim Yong said tit-for-tat tariffs may escalate into a global trade war. He warned that Singapore is entering into choppy waters, and that the government may have to adjust its growth outlook for the year. Nasyrah Rohim reports.
Singapore has said it will not impose retaliatory tariffs on the US, despite being allowed to do so under a bilateral free trade agreement. Singapore was not immune to Washington's blanket 10% tariffs, despite the US having a $30-billion trade surplus with the nation. Reacting to the far-reaching tariffs, Singapore Deputy Prime Minister Gan Kim Yong said tit-for-tat tariffs may escalate into a global trade war. He warned that Singapore is entering into choppy waters, and that the government may have to adjust its growth outlook for the year. Nasyrah Rohim reports.
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