Singapore PM's great speech on the Trump's tariffs The Singapore Prime Minister Lawrence Wong's spe

[human1234]

Singapore PM's great speech on the Trump's tariffs

The Singapore Prime Minister Lawrence Wong's speech is the most articulate and comprehensive assessment I've heard on the all the issues with Trump's tariffs. Worth seeking out on youtube.

>..what the US is doing now is not reform. It is rejecting the very system it created. We have an FTA with America. We impose zero tariffs on US imports, and we actually run a trade deficit with the US – meaning we buy more from them than they do from us. If the tariffs were truly reciprocal, and if they were meant to target only those with trade surpluses, then the tariff for Singapore should be zero.

Wong said there was “nothing inherently wrong about running a trade deficit” as it simply meant American consumers were buying more from the world, than the world from America.

He also said Washington’s focus had been solely on goods, which was a “partial picture”, pointing out that the US ran a surplus with many of its trading partners in the services sector, though this had been “completely ignored”.

>The US may have decided to turn protectionist. But the rest of the world does not have to follow the same path. We will identify other partners to join us and work around this – to ensure resilience and maintain critical parts of the multilateral system, while laying the foundations for a possible new and different global system that can be achievable later.

 

https://www.reddit.com/r/stocks/s/nCbhnGFuiU

[human1234]

 

[futureofandhra]

23 minutes ago, human1234 said:

Singapore PM's great speech on the Trump's tariffs

The Singapore Prime Minister Lawrence Wong's speech is the most articulate and comprehensive assessment I've heard on the all the issues with Trump's tariffs. Worth seeking out on youtube.

>..what the US is doing now is not reform. It is rejecting the very system it created. We have an FTA with America. We impose zero tariffs on US imports, and we actually run a trade deficit with the US – meaning we buy more from them than they do from us. If the tariffs were truly reciprocal, and if they were meant to target only those with trade surpluses, then the tariff for Singapore should be zero.

Wong said there was “nothing inherently wrong about running a trade deficit” as it simply meant American consumers were buying more from the world, than the world from America.

He also said Washington’s focus had been solely on goods, which was a “partial picture”, pointing out that the US ran a surplus with many of its trading partners in the services sector, though this had been “completely ignored”.

>The US may have decided to turn protectionist. But the rest of the world does not have to follow the same path. We will identify other partners to join us and work around this – to ensure resilience and maintain critical parts of the multilateral system, while laying the foundations for a possible new and different global system that can be achievable later.

 

https://www.reddit.com/r/stocks/s/nCbhnGFuiU

This is Big 

Though us kept 10% tariffs they are going with China