Lawrence Wong on implications of US tariffs for Singapore

PM Lawrence Wong on implications of US tariffs for Singapore | Full video

Trump is a moron who doesn't understand Tariffs. Sure, if the tariff makes imports more expensive, the exporting countries will probably sell less to the US. BUT, the US citizens/residents will pay MORE for the goods they need. So a microwave oven that used to cost $100, would now cost $130 or more. And the common folk will have to pay that price. 

Singapore will not impose reciprocal tariffs on US goods. Because, this will make US goods MORE EXPENSIVE for Singaporeans. Retaliatory tariffs will only hurt ourselves for no good reasons. What Trump has done is what he has ALWAYS done - break his word, and make things difficult so that he can then "negotiate". This is what he calls "The Art of the Deal". Others call it bullying and then negotiating in bad faith. 

The world was moving towards free trade. Trump has unilaterally upended world trade. This just means that every country will now have to negotiate Free Trade Agreements (FTA) with each other. For a small country like Singapore, we can try to negotiate FTA by ourselves, or we can try to negotiate as a bloc like an ASEAN FTA . 

And we can all isolate the US (i.e. not trade with the US), until Trump is gone.

Video: SM Lee on impact of Tariffs

Video: Singapore thought it was safe. Wrong.

And in Malaysia, PM Anwar has a statement:

Video: Malaysia's Anwar Ibrahim statement

However, all these statements are futile. You cannot argue with one who does not use logic and reason, and has a track record of bankrupting 6 (?) casinos and has no integrity.