US tariffs will significantly impact Singapore’s growth; Budget 2025 to help in short term: PM Wong

The Government is continuing to monitor developments closely and stands ready to do more, if and when necessary, PM Lawrence Wong said. - Photo: MDDI

SINGAPORE: The recent tariffs imposed by the United States will hurt the Singapore economy, businesses and workers, said Prime Minister Lawrence Wong.

“Singapore may or may not go into recession this year. But I have no doubt that our growth will be significantly impacted,” he said.