By now you should have already heard about it liao, that the 胖老鸭 (Fatty Trump) Donald Trump don’t know where itchy, he decided to drop one super big bomb that is as huge as his body on the whole world.
When the Gahmen keep telling us the world is undergoing through a lot of uncertainties, we still think “SURE BOH?” because we are such delicate little flowers. But the truth is hor, this 胖老鸭 (Fatty Trump) is just one of those siao langs and the siao things we have to deal with. So all the more we need smart and strong people to lead Singapore and manoeuvrer us out of such siao situation.
In case you didn’t hear hor, on Wednesday (April 2), this 胖老鸭 (Fatty Trump) announced that the United States will be imposing at least a 10% tariff on all imports.
This 胖老鸭 (Fatty Trump) calls this the “punishing tariffs” and uses this to punish countries that “treat them badly”. Really is very 冤枉 (wrongly sabotaged) hor. Singapore is such a small little country, and we never offend anyone. But still kena!!
So how? What’s the impact? And got plan or not? We explain it properly to you now.
First Things First: What is Tariff?
Tariff = import tax.
This means if a US company buy things from Singapore, like electronics or machines, they now must pay 10% more on top of the original price.
Why they do this? They do this to protect their own local businesses. When they make foreign goods more expensive, US-made goods become more attractive because cheaper.
Singapore also kena 10% Tariff
Unfortunately, Singapore also kena this tariff even though we got the US-Singapore Free Trade Agreement (USSFTA), we also kena 10%. But 10% is considered the lowest liao.
Certain countries kena even worse. Like China, 胖老鸭 (Fatty Trump)’s superpower rival, he slapped them with an extra 34% tariffs, stacking on top of existing ones = total 54%. The European Union (EU) also kena 20%, while Japan kena 24%.
In other words, no matter who you are, as long as you selling to the US, your goods just become more expensive.
According to US side, no exemptions, no pang chance at all. One size fits all.
So how will this affect Singapore leh?
Singapore is not directly targeted, but as a small, super open economy, this kind of move from US sure affect us. Here’s how:
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Singapore products now become more expensive in US
We export quite a bit to US. Things like Electronics, Semiconductors, Biomedical stuff, and Precision engineering.
That means now, when US buyers want to buy things from Singapore, they will think twice because they need to pay 10% more. So naturally, they will either reduce orders or switch to other suppliers. Bad news for our companies sia.
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Multinational companies might rethink their plans
A lot of global companies use Singapore to do manufacturing or logistics. But now their goods kena tariff going into US, they may want to change their plans to move back to US then we will all lose all the good jobs in Singapore.
Also good, so all the keyboard warriors won’t kaopei anymore because no ang moh companies and no ang moh talents here? Can say bye-bye to them together with the JOBS. Good?
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Rest of the world might want to fight back & Singapore sure kena dragged in
If other countries 想不开 (feel unbalanced) and decide to fight back because: hOw CaN US and 胖老鸭 (Fatty Trump) bULLY uS?!
Then this one jia lat sia because it will become one big global trade war.
According to The Business Times, our Ministry of Trade and Industry (MTI) is already warning that Singapore may have to downgrade our GDP growth forecast for the year. Means our economy may grow slower than expected. Jobs, wages, investments humbalang all could be affected.
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Local SMEs also stress
Not just big companies ok. Even local SMEs who export to US or are part of international supply chains may suffer. The margins will kena squeezed, orders may slow down. Some of them may have to pivot or restructure.
Really is stupid 该死的胖老鸭 (Fatty Trump)！
So, what is our Gahmen doing about it?!
Aizai, ai steady ok. Minister Gan Kim Yong already say. Singapore got plan, no need to panic. Here’s what they doing:
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No need to fight back
In other words, we won’t play tit-for-tat. Because if we also impose tariffs, our own import costs will go up. End up Singaporeans also suffer. Our food, goods, raw materials all become more expensive.
So, smarter not to fight fire with fire. If not will JIPABOOMZ. Don’t bah, better not.
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Singapore will engage US through diplomatic channels
Singapore will try to talk to the US side, explain our situation, and see whether can negotiate special arrangements or reduce damage.
We not the kind to shout and scold. We got class one, we use calm diplomacy.
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Support local businesses
MTI say they’re monitoring the situation, and if needed, they will help companies to diversify markets. They will also assist in restructuring supply chains and provide support schemes or grants if industries kena badly. Basically, help businesses tide through and stay competitive lah. Cannot let Singaporeans suffers!
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Diversify our trade partnerships
If US so bad bad to Singapore then we won’t put all our eggs in one US basket lor. We go out and make more friends. That’s why Singapore already busy with more FTAs (Free Trade Agreements) and expanding links with ASEAN, EU, Middle East, India, etc.
More partners = less risk. Smart bah?
Singapore may be small, but we are not helpless. We got smart leaders who will think ahead and make plans in advance. But hor very hard to say liao because don’t forget ah this year, 2025, is an election year in Singapore. So on top of all these US tariffs and global tensions, we also got local political changes coming up.
That means ah no matter which party win and form the next government, they will need to deal with this 胖老鸭 (Fatty Trump) era, and also help Singapore sail steady through all the trade wars and economic shifts. The world getting more unstable, next government must be steady and decisive.
Unless you want to sabo yourself and choose a party that repeatedly declares that they have no intention to form the government (reads: they are not ready)… then really is nothing to say liao.
