Singapore's response to potential impacts from U.S. tariffs and its focus on economic growth and resilience are evident in the statements made by Deputy Prime Minister Gan Kim Yong. The country's trade surplus with the U.S. provides some insulation from direct impacts, but the potential for shifts in supply chains and trade patterns due to tariffs could have longer-term effects on the global economy.
Singapore's proactive approach to economic planning, as highlighted by Gan, underscores the country's commitment to maintaining and exceeding growth projections. The government's budget for 2025 includes support measures for households and businesses, as well as initiatives to boost local companies.
The announcement of a study on the potential deployment of nuclear power in Singapore reflects the country's continued efforts to explore alternative energy sources and enhance its energy security. Overall, Singapore's strategic planning and readiness to adapt to economic challenges demonstrate its resilience and determination to navigate potential disruptions in the global economy.
Singapore likely to see 'limited' direct impact from U.S. tariffs: deputy prime minister
