SINGAPORE, April 17 — Singapore “cannot rule out” a recession this year because of the global uncertainty caused by US President Donald Trump’s tariffs, its trade minister...
On Monday, the Trade Ministry downgraded Singapore’s economic growth forecast this year to between zero and 2.0 per cent, from its previous forecast of 1.0-3.0 per cent. — AFP picSINGAPORE, April 17 — Singapore “cannot rule out” a recession this year because of the global uncertainty caused by US President Donald Trump’s tariffs, its trade minister said yesterday.
The effects of the US tariffs worldwide “have caused significant uncertainty and downside risks in the global economy, and we must be prepared for more shocks and challenges ahead,” Gan said. Gan said a trade war between the United States and China could “choke off” $600 billion in annual trade. “If it is necessary for us to do so, we will provide support for companies, for our workers and for Singaporeans,” said task force member Chee Hong Tat, who is minister for transport and second minister for finance.
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