Singapore Prime Minister Lawrence Wong Said on Wednesday that there is “Little Comfort” in the Us Postponing Sweeping Tatiffs on Most of the World.
After initally enforcing So-Called “Reciprocal” TARIFFS ON THE MAJORITY OF THE United States ‘Trading Partners, Us President Donald Trump Abruptly Reversed Course Last Week, Announcing A 90-Day Pause
However, “Baseline” Taiffs of 10% on Most Imports, along with 25% Tahriffs on Car, Steel and Aluminum Imports, Have Remained in Place.
In a speech at an occasion arranged by the city-state’s Ministry of Foreign Affairs, Wong Said “Geopolitical Competition,” which Had Largely Been Dormant Since the End of the Cold War, Had “Returned With A Vengance” And that “Major Powers no Longer FEEL ECONOMICALY SECURE” Escalating Trade was in between the us and china.
“Where Economic Interdependence was Once Seen as a Virtue, it is now Seen as a vulnerability,” Wong Said
The Prime Minister Said that While thesis patterns are not brand-new, “They have reached a new intensity with the latest us Tariff Moves.”
“The Us Has Sion Postponed Most of Its Reciprocal Taiffs, but there is little comfort in this, Because the Current Baseline Taiff Rates Are Still Much Higher Than What They Used to Be, And The Changes Have Already Caused Great UncertaTy Everywhere,” Wong Said.
“No Company Can Comfortable Plan Long-Term Investments While knowing that the Tariff Rates Could Be Changed at a Moment’s Notice,” Hey Added
