Though not formal allies, Singapore and the US enjoy strong business and security links that includes access to the city-state’s naval and air base facilities. Two-way trade of goods and services between the US and Singapore reached over US$131 billion ($178.12 billion) in 2023, according to the American Chamber of Commerce.
Balakrishnan warned that Singapore as a small, trade-reliant nation could be affected by the ensuing trade war, particularly if continued tariffs result in the degradation of economic integration, supply chains and world trade.
“I do need to prepare Singaporeans that it will be a turbulent ride in the months or years to come,” he said.
China on Tuesday slapped tariffs on a range of US products and announced a probe into Google moments after President Donald Trump imposed a 10% tariff on goods from Beijing, reigniting a trade war between the world’s largest economies.
