PM Lawrence Wong announces task force in response to US tariffs; Global attention for River Valley fire involving Bollywood actor-politician Pawan Kalyan's young son: Singapore live news

Prime Minister Lawrence Wong announces task force led Deputy Prime Minister Gan Kim Yong to address economic challenges posed by US's 10 per cent tariffs, focusing on trade resilience. (Photo: REUTERS/Athit Perawongmetha - Wong; Isabel Kua - Gan) Prime Minister Lawrence Wong has unveiled plans to address the economic fallout from the universal 10 per cent tariff imposed by US President Donald Tump, underscoring a strategic effort to protect Singapore’s growth amid heightened global trade tensions. This comes as the nation braces for potential disruptions to its trade-reliant sectors, especially manufacturing and finance. In a statement to lawmakers, Wong criticised the tariffs as an affront to Singapore’s longstanding trade partnership with the United States, which has a free trade agreement with the city-state. The new tariffs, which are set to impact all imports, were expected to slow global growth and may trigger retaliatory measures, further destabilising the international trade system. “These are not actions one does to a friend,” Wong remarked. To mitigate the adverse effects, the Singaporean government has formed a task force headed by Deputy Prime Minister Gan Kim Yong. The team will focus on bolstering the resilience of businesses and workers, enabling them to navigate the volatile economic environment. Despite the uncertainty, the task force's collaborative approach aims to reinforce economic stability and competitiveness. Although Singapore remains relatively insulated from the larger tariffs imposed on Southeast Asia, the global ripple effects are already felt. With the US tariffs targeting 10 per cent across the board, Singapore's economic growth forecast for 2025 has been revised downward. Analysts predict potential job losses and disruptions in trade relations could lead to slower wage growth and a contraction in the job market. Meanwhile, Malaysian Prime Minister Anwar Ibrahim emphasised the role of the Association of Southeast Asian Nations (ASEAN) in advocating for multilateral trade systems and forging stronger regional ties to cushion the blow of the US tariff imposition. He called for greater ASEAN integration to boost the bloc’s collective competitiveness and reduce reliance on external trade partners.