Singapore Prime Minister Warns of Global Trade War After Trump’s Tariffs
Listen to the full version
Singapore Prime Minister Lawrence Wong warned in a recorded video Friday of the growing likelihood of a full-blown global trade war following U.S. President Donald Trump’s reciprocal tariffs, which began to take effect over the weekend.
China, Canada, and the EU have said they plan to retaliate against the U.S. Beijing announced Friday a package of retaliatory measures including a reciprocal tariff on all U.S. imports. Canadian Prime Minister Justin Trudeau said the country would introduce unspecified countermeasures, on top of earlier retaliation. And European Commission President Ursula von der Leyen said the bloc was working on new countermeasures while finalizing tariffs in response to earlier U.S. metals tariffs.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
- DIGEST HUB
Digest Hub
Back
- Prime Minister Lawrence Wong warned of a growing likelihood of a full-blown global trade war due to U.S. reciprocal tariffs, prompting retaliatory measures from China, Canada, and the EU.
- Wong stated Singapore would not impose retaliatory tariffs but emphasized the risks of countries abandoning the multilateral trading system and the potential negative impact on small nations.
- He urged Singapore to strengthen partnerships and prepare for future economic shocks, noting that global institutions are weakening and norms are eroding.
- June 1930：
- U.S. President Herbert Hoover signed the Smoot-Hawley Tariff Act into law, raising tariffs on imported goods.
- By April 4, 2025：
- Canadian Prime Minister Justin Trudeau said the country would introduce unspecified countermeasures.
- By April 4, 2025：
- European Commission President Ursula von der Leyen said the EU was working on new countermeasures.
- April 4, 2025：
- Prime Minister Lawrence Wong warned of a growing likelihood of a full-blown global trade war in a recorded video.
- April 4, 2025：
- China announced a package of retaliatory measures including a reciprocal tariff on all U.S. imports.
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新