Trade-reliant Singapore warns of big risks if tariff wars go on

SINGAPORE (Oct 5): Export-dependent Singapore has a strong warning for the rest of the world: The damage from a prolonged trade war will be severe.

While Southeast Asia has found some benefits from the deepening trade hostilities between the US and China, the risk of a protracted conflict should have everyone worried about the state of the global economy, said Singapore Minister for Trade and Industry Chan Chun Sing.

“In the medium term, some countries benefit and some countries lose,” Chan said in an interview with Bloomberg Television’s Haslinda Amin in Singapore. “What is more worrying for everyone is that the entire global economy loses confidence.”

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