Dear ST reader, Just hours after nominations for the May 3 General Election closed on April 23, Singapore Prime Minister Lawrence Wong said that the challenges today are more severe than when Singaporeans last went to the polls in 2020 during the Covid-19 pandemic. At a press conference, he said: "No one can tell what this new global order will be like... we are in the midst of a very messy and unpredictable transition." He called on Singaporeans to "equip themselves" with the best team to take the nation forward. Singapore is subject to a baseline 10 per cent tariff imposed by the US. If the US imposes separate tariffs on semiconductor and pharmaceutical imports, Singapore's economy will sustain a much bigger hit. The White House is meanwhile betting on more clarity to emerge from a string of deals with a dozen other nations. The US is negotiating "tailor-made" deals with some 90 trading partners during its 90-day pause, which will end in early July. Will there be 90 deals in 90 days? In China, exporters told The Straits Times that American customers have suspended orders and shipments as they sought further clarity on how tariff negotiations will pan out. Still, China said on April 24 that there were no ongoing negotiations with the US. Perhaps some of the messages are to be found in the memes produced by the Chinese embassy in America. |
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