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Trump trade tariffs will hurt economies in Asia, but it is not all doom and gloom
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Singapore is one of the only two Asian nations, and the only one in Asean, with a free trade agreement with the US.
ST PHOTO: KUA CHEE SIONG
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SINGAPORE – Strong manufacturing capabilities and cost advantages will keep Singapore and other Asean economies attractive investment destinations, but they still might take a hit from any policy upheaval in US President-elect Donald Trump’s four-year term.
Trump’s promise to impose a 60 per cent tariff on imports from China and as much as 20 per cent on those from the rest of the world opens the door for retaliatory tariffs, which will crimp global trade and raise the prices of tradable goods.
