Singapore’s Lee Hsien Loong and PM Wong Warn of Global Uncertainty as US Imposes 10% Tariff, Task Force Formed Amid Recession Risks

Former Singapore Prime Minister Lee Hsien Loong and current Senior Minister have warned of increasing global uncertainty and a more troubled world amid escalating trade tensions. Singapore's Prime Minister Lawrence Wong highlighted profound changes in the international landscape, noting that conditions which previously supported Singapore's success are becoming more uncertain, unsettled, and unstable. Wong also expressed concern over the United States' inward turn under President Donald Trump, which he said is creating a void in international affairs that China and other major powers are unable to fill, leading to a more fragmented and disorderly global environment. The escalation of US-China tariffs has been described as "extremely worrying" by Singapore's Deputy Prime Minister, who noted that companies in Singapore are already feeling the impact. In response to the US imposing a 10% tariff on Singaporean goods in April 2025, the Singapore government has formed an inter-agency task force and announced joint relief measures with unions and employers. Deputy Prime Minister Wong indicated that Singapore's GDP growth for 2025 is under pressure due to these developments, with concerns mounting over a potential recession amid the fallout from the tariff escalation.