Tariff Turmoil: Singapore PM Highlights Business Uncertainty

Singapore Prime Minister Lawrence Wong expressed concerns over U.S. tariffs, stating that high baseline rates contribute to significant business uncertainty. Although some tariffs have been postponed, the unpredictability hinders long-term planning for companies globally.

Singapore Prime Minister Lawrence Wong raised concerns on Wednesday regarding the impact of U.S. tariffs on global business certainty. Despite the postponement of some reciprocal tariffs, Wong emphasized that current baseline rates remain elevated, causing significant unease.

Speaking at a lecture, Wong stated, "The changes have created great uncertainty for businesses everywhere," highlighting the challenges companies face in planning long-term investments amid such volatility.

He noted the difficulty for businesses to strategize effectively when tariff rates are subject to sudden alterations, urging for a more stable trade environment.

(With inputs from agencies.)