Loss of global stability means unprecedented uncertainty for Singapore: SM Lee
The recent US-imposed tariffs have caused an unstable external environment, which has led to unprecedented uncertainty for Singapore, according to Senior Minister Lee Hsien Loong.
On Monday (April 14), SM Lee addressed the tariffs' impact on Singapore and stated that uncertainty is high, and over the next five to 10 years Singapore faces «a less friendly world».
He was speaking at a closed-door dialogue at the National Trades Union Congress (NTUC) Centre, which was attended by NTUC president K Thanaletchimi, secretary-general Ng Chee Meng as well as other union leaders.
SM Lee acknowledged that such dialogues with union leaders were held regularly, particularly after Budget announcements.
As he continued speaking about the tariffs, he said: «I hope that Singaporeans understand what is happening, what is at stake, and what we must do together to secure our future.»
"Some people say, 'don't get excited, don't over blow the issue, we've weathered bigger storms before, we haven't failed'.