Singaporean Prime Minister Lawrence Wong delivered a stark message in a recent video update, warning that the era of rules-based globalization and free trade has come to an end. Speaking in a digitally savvy announcement, Wong emphasized that as the United States implements sweeping tariffs, the global trade landscape is undergoing a seismic change.
The U.S. has rolled out a 10-percent minimum baseline tariff on all imports, including those from Singapore. This move, which imposes even higher rates on certain trading partners, signals a shift toward a more arbitrary and protectionist approach to global trade. While Singapore faces limited direct impact for now, Wong cautioned that the broader consequences may be far-reaching for small and open economies worldwide.
Industry experts express growing concerns about the long-term effects of such policies. Stephen Orlins, president of the National Committee of U.S.-China Relations, explained that although some job creation is expected, automation limits the overall benefit. This dynamic is prompting calls for renewed dialogue and negotiations among nations as the world adapts to a rapidly changing trading environment.
For globally minded audiences—from young tech enthusiasts to dedicated travelers—this is a critical moment to reflect on the evolving rules of international engagement and to consider how new economic policies will shape our interconnected future.
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Singaporean PM says 'free trade is over' after Trump's tariffs
cgtn.com
