Singapore to form task force to tackle fallout from US tariffs
Singapore will form a national task force to support businesses and workers in response to sweeping new U.S. tariffs that could slow economic growth and impact jobs and wages, Prime Minister Lawrence Wong said on Tuesday.
Information sharing and communication and transparency will be a key focus of Singapore's new task force. Photo courtesy of straitstimes.com.
Wong told the parliament that the task force, chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, will include representatives from Singapore's economic agencies, the Singapore Business Federation, the Singapore National Employers Federation and the National Trades Union Congress.
Gan said the task force will focus on communication and information sharing. For instance, it will gather information from private sector representatives on the challenges that businesses are facing on the ground and how the Government can support them.
At the same time, the Government is reaching out to Singapore’s trading partners to share information and its assessment of the situation, as well as find different ways of working together, he added.
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