Singapore has spoken out against new tariffs announced by US President Donald Trump. The country’s Prime Minister, Lawrence Wong, said these actions are not something friends should do to each other. He also warned that Singapore might lower its economic growth forecast for the year.
Speaking in Parliament, Prime Minister Wong said the risk of a global trade war is getting higher. He urged Singapore, which relies heavily on trade, to get ready for hard times.
“We are very disappointed by the US decision,” he said. “We have a strong and long-lasting friendship with the United States, so this move is very troubling.”
Last week, President Trump introduced new tariffs on many countries, including US allies. He claimed that other countries have taken advantage of the US for many years.
Singapore was hit with a 10% tariff, even though it has a free trade agreement with the US. While this rate is lower than what some countries received, Wong said Singapore’s economy will still suffer if global trade slows down.
“Whether or not Singapore falls into a recession this year, our growth will definitely be affected,” Wong said.