Singaporean PM says ‘free trade is over’ after Trump administration’s tariffs

Singaporean Prime Minister Lawrence Wong has warned that the U.S.’s new 10% baseline tariff on all imports, including those from Singapore, signals a major shift away from rules-based globalization and free trade. In a video message, he called it a “seismic change in the global order,” criticizing the move as protectionist and a rejection of the World Trade Organization (WTO) framework. While the immediate impact on Singapore may be limited, Wong emphasized the broader global risks, especially for small and open economies.

The tariffs, introduced by the U.S. under President Trump, are aimed at reducing budget deficits and reviving domestic manufacturing. However, experts like Stephen Orlins argue that automation limits the potential job gains, and he expressed hope for future negotiations to reduce the tariffs.

Source – CGTN