Task force on US tariffs includes five ministers; will develop immediate and long-term strategies

SINGAPORE: A new task force addressing the impact of US tariffs includes five Cabinet ministers and representatives from business and labor, chaired by Deputy Prime Minister Gan Kim Yong. The task force will assess immediate challenges, communicate with affected businesses, and develop long-term strategies to maintain Singapore’s economic stability and attractiveness to investors. Concerns about potential economic recession have led to downgraded growth forecasts and eased monetary policies amid rising tariffs affecting local businesses.