The April 14 announcement of downgrading by MTI comes exactly two months after a February 14 media release stating that the ministry was maintaining the Singapore “GDP growth forecast for 2025 at 1.0 to 3.0 per cent”. That media release had said that the Singapore economy had expanded by 4.4 per cent in 2024.
Tag: Tariff War
Trade War escalates: US imposes 104 percent tariff on China
US government imposes 104 percent tariff on China, further escalating the tension between the two larges economies
Is US headed for “Trump recession”? Economic worries mount over tariff wars, workforce cuts, spending freeze
The US federal government reduced its payrolls by 10,000 in a potential harbinger of the alarm being sounded by the stock market, consumer confidence and other measures of where the economy is headed. Since January, the economic policy uncertainty index has spiked 41 per cent to a level, 334.5, that in the past signalled a recession.
US, Canada diplomats discuss trade amid new tariff announcement by Trump
White House press secretary Karoline Leavitt told reporters that Trump spoke with top officials at automakers Ford, General Motors and Stellantis before announcing the tariff delays. She said Trump urged the automakers to move their Mexican and Canadian production to the United States to avoid the tariffs altogether.
