Okay besties, let’s be real — the challenges coming our way? Yeah, they’re legit. But so is our gov’s steady-hand rep, right? They've steered us through stuff before. Buuut now… kinda feels like we’ve got a bunch of people in charge with more vibes than actual expertise. Like, you don’t even need relevant experience to be a minister? Make it make sense.
And yeah, Singapore’s calm, cool, collected vibes in this messy world? Super important. But let’s not pretend a “proven track record” is a forever pass. Remember Nokia? Used to be the phone brand, but no new ideas + bad calls = RIP. Just saying, past wins don’t guarantee future Ws.
Now let’s talk about that spicy 10% tariff:
1. It's not just about us, okay??
So the US dropped a 10% tariff — but plot twist: it’s for everyone, not just us. Even though we don’t tax their goods (rude). And they actually sell more to us than we do to them, especially in services. Like, bro… where’s the friendship energy?
Also, they didn’t even spill the tea on what we’re exporting (semiconductors maybe?). Some people say 10% isn’t that bad, and maybeeee companies might start making stuff here to bypass higher tariffs elsewhere. Vietnam’s not giving main character energy anymore, so who knows? Silver lining??
2. Big picture, babes
This isn’t just a Singapore vs. US drama. The US is on a tariff spree, and rolling that back? Not happening soon. We’re staying classy and not retaliating, but other countries (China, EU…) are not in the mood. If everyone starts clapping back, guess what? Everything’s gonna get pricier. Like, how to afford anything?? From who?? Where??
3. Time to make new trade besties!
April 10 = ASEAN Economic Ministers meet-up. We gotta link up, squad-style. Whether it’s BFF one-on-one deals or full squad goals, ASEAN could be the move. Singapore’s whole economy is like: I run on trade, don’t leave me on read.
4. The world’s kinda a hot mess rn…
Back in the day, the global trade scene had solid rules (shoutout WTO and the “Most Favoured Nation” rule — very fair, very slay). But now? The US is doing its own thing and the vibes are off. Still, maybe the rest of the world can build a newer, nicer system? You can bet Singapore will be the ✨main character✨ in that story.
5. Short-term panic, long-term ????
Manufacturers here are like: “uhh what now?” Do we invest? Do we chill? How much can we raise prices without scaring off customers? DPM Gan Kim Yong is heading a vibes-check taskforce to figure out who needs help and how. Budget 2025 might have some goodies, but nothing confirmed yet.
One thing’s for sure: slower growth, maybe job cuts, and companies being extra cautious. Tariffs going away soon? Don’t count on it. Trump’s energy is “double down.” If we do get to talk it out, what do we even offer without looking weak?
And btw, shoutout to the NCMP who asked the tough questions — no one got roasted. All v civil, very adulting.
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