SINGAPORE: U.S. tariffs will have multiplier effects that will "generate a broader negative income and demand shock to the Singapore economy", the Monetary Authority of Singapore said in its macroeconomic review released on Monday.
As well as the direct impact of a 10% baseline tariff on Singapore's exports to the U.S., its second-largest export market, there will also be indirect effects from the tariffs levied on other countries, the central bank said.
