[Gan Kim Yong] 'I think our HOUSEHOLDS & businesses have to be prepared....'

[Potato_Wedges]

Means increase across the board?
Can't we just don't buy US goods???

 

[econ food]

Wlwl..how..

 

[nasilemak100]

Means increase across the board?
Can't we just don't buy US goods???

lol u telling sinkies not to buy iphone ?

 

[econ food]

@Potato_Wedges .. buy lesser usa products? How about oils.. car engine etc . These are partly come from usa products ma..cannot la.

 

[Clarence NMT]

Actually dun think is affected, only business will find excuse to rise the cost, because is the us comsumer side, not sg

 

[Medicated Oil]

What happened to LW ?
Thought he is going all out to tackle the high cost of living.
Now, his 2IC is breaking the bad news ?

 

[yperic]

Minister for Trade and Industry Gan Kim Yong said on Thursday (Apr 3) that Singapore will not retaliate with import duties against the US for imposing a 10% baseline tariff, despite the longstanding US-Singapore Free Trade Agreement. Mr Gan said instead, Singapore will take countermeasures, seek dispute resolution and reach out and engage US counterparts to better understand their concerns.

Mr Gan also noted that the 10% baseline tariff will significantly impact Singapore’s economy, requiring reassessments of economic forecasts and potential support measures.

 

[nasilemak100]

it will just be like effect of gst increase.

regardless u gst registered or not. u just increase ur selling price. anything can just say cost increased due to war (u can pick ukraine vs russia or hamas vs israel) and climate change an inflation and global rising cost etc. so many reasons for u to pick to justify ur price increase

so business will just increase price together. this form the new market rate.

 

[Carnesir]

Retaliatory tariff means my iPhone will cost $2200 instead of usual price $2000 sia

 

[skylink67]

Tariff is applied when goods exported from Singapore to US. US consumers pay 10% tariff when buying Singapore goods. How this affects consumers here? I dunno.

 

[Insatiable_creat]

How? Only sg businesses that export to usa are affected. Is our economy so dependent on our exports to USA?

Fearing mongering so that we have to vote for them this GE?

 

[FireEmblem]

Vivian need to harakiri, he dared USA to give us tarriffs

 

[teaspoons]

My cai png and kopi gonna increase again

 

[Kac2009]

Some people still very happy Donald Trump won...until it starts to hit them.

 

[nasilemak100]

Tariff is applied when goods exported from Singapore to US. US consumers pay 10% tariff when buying Singapore goods. How this affects consumers here? I dunno.

by right lor

in reality u will see businesses just increase cost wait and see

 

[kalipo]

WL WL WL inflation + tariffs = Kong Kar kiow

 

[Courage]

Just sell to China and EU and problem solved

 

[boredom2012]

Yeah he is right. Jobs going to lost. Some hi tech company move to USA

 

[tatsit]

Tariff is applied when goods exported from Singapore to US. US consumers pay 10% tariff when buying Singapore goods. How this affects consumers here? I dunno.

How? Only sg businesses that export to usa are affected. Is our economy so dependent on our exports to USA?

Fearing mongering so that we have to vote for them this GE?

yeah, exactly. i dont understand what's the fuss

in fact, Trump levelled the playing ground, putting us at an advantage for exporting to USA since the tariffs on cheaper 3rd world countries are way higher. we are gaining from this tariffs

 

[KosmoKramer]

Tariff is applied when goods exported from Singapore to US. US consumers pay 10% tariff when buying Singapore goods. How this affects consumers here? I dunno.

Tariff should not even affect local market, but Singapore businesses will find excuse to increase local price to cover their profit loss from tariff.