Singaporean Prime Minister Lawrence Wong issued a stark warning on Friday, declaring that the era of rules-based globalization and free trade "is over" amid escalating U.S. tariffs. In a video message, Wong described the new global trade landscape as "arbitrary, protectionist, and dangerous," emphasizing the risks for small, open economies like Singapore.
"The United States is abandoning the entire system it had created,"
Wong said, criticizing the U.S. for replacing World Trade Organization (WTO) principles with country-by-country reciprocal tariffs. The remarks followed Washington's announcement of a 10% "minimum baseline tariff" on all imports, part of a broader shift under former U.S. President Donald Trump.
While Singapore faces limited direct impact from the initial tariffs, experts warn of long-term repercussions. Stephen Orlins, president of the National Committee of U.S.-China Relations, noted automation's growing role in manufacturing, suggesting tariffs may not revive U.S. jobs as intended. "I went to a factory the size of a football field… There were no people in this. It was all automated," he told CMG.
Wong cautioned that the shift threatens global economic stability, urging nations to adapt to a fragmented trade system. As container ships continue to depart Singapore's ports, the city-state's reliance on open markets faces unprecedented strain.
