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Singapore sees progress in US tariff talks, but uncertainty may overwhelm hope

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On May 16, Deputy Prime Minister Gan Kim Yong reported progress on trade talks with the US.

On May 16, Deputy Prime Minister Gan Kim Yong reported progress on trade talks with the US.

PHOTO: ST FILE

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SINGAPORE – Singapore will not be racing to upgrade its economic growth forecast later this week as recent positive developments on the trade and tariff fronts are insufficient to cut through the deep uncertainty clouding the outlook.

The

90-day truce on the US-China tariff war

announced on May 12 and the

US-Britain trade deal

have lowered anxiety levels on the health of global trade that powers Singapore’s export-driven economy.

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