SINGAPORE — Singapore is expected to downgrade its 2025 economic growth forecast in response to sweeping new U.S. tariffs that threaten to upend the global trading system, Prime Minister Lawrence Wong warned Tuesday.
In a 20-minute speech to parliament, Wong said the city-state’s gross domestic product growth this year will be affected as trade flows slow. Some multinational companies and local businesses, he said, “have put new projects on hold” to assess the full implications of the tariffs.
