Singaporeans have criticized US tariffs because ordinary people will suffer. Singaporean leaders have warned of economic turbulence, with 2025 growth forecasts at risk by recent sweeping US tariffs. The nation may pivot to EU-China-ASEAN trade to weather the storm. Miro Lu explains how Singapore may adapt to global uncertainties. 

MIRO LU, Singapore "As US president Donald Trump launched his trade war with friends and foes across the globe, countries like Singapore, the poster child for globalization and a strong advocate for free trade, looked on with disbelief."

SPEAKER "I think it affects Singapore because, Singapore is being a trade hub in the region, that's why. In my opinion, probably, on the EU side, the EU will be more bonded in this manner because they will deem the US as an unreliable ally."

SPEAKER "I think the trade war's really stupid, you know. I mean, what's the point of putting over a 100%? What are you going to achieve? Is it because it hurts your country? That's why you have to put it out. Then why is your country like that?America? You know. "

SPEAKER "I understand that the US is doing this to, to save the economy, but somehow it's actually hurting them. So the people who are suffering most are actually the Americans themselves. "

SPEAKER "Yeah, I do know about it. And it's quite unexpected. So he has been raising tariffs for all the countries, and Singapore is under the 10% bracket. But still, we feel that items that we get from the US might become expensive. I believe it's not good for the common people involved."

MIRO LU, Singapore "Prime Minister Lawrence Wong urged Singaporeans to brace for 'shocks', while the trade minister Gan Kim Yong also warned businesses to be prepared for 'rough waters' ahead. PM Wong cautioned that Singapore is reassessing its projected growth of 1.3 percent in 2025, potentially downgrading it should the global situation deteriorate. So, what options does Singapore have? 

Firstly, monetary policy. Singapore's central bank manages monetary policy by controlling the strength or weakness of the local dollar against the currencies of its main trading partners  a potential reason Singapore is not spared from Trump's tariffs. It has been on the US watch list for currency manipulation since 2019. If the MAS sets a less steep appreciation stance on the SG dollar, exporters could benefit from a weaker SG dollar. This could come as early as April 14th, when the central bank is due to release its quarterly monetary policy statement. 

Secondly, increased government spending on public services and subsidies for businesses and households can also help in stabilizing the economy. And Singapore has a deep pocket of reserves to ride through difficult times, thanks to its prudent fiscal policies over the years. 

Lastly, economists and academics are calling on Singapore to prepare for a trade network without the US. More trade with the EU, China, and intra-ASEAN is set to take off."