Singapore Adjusts GDP Forecast Amid Global Trade Tensions

Singapore has revised its 2025 GDP growth forecast to 0-2%, citing the impact of US tariffs under President Trump's administration on global trade. The Monetary Authority of Singapore has also eased monetary policy due to economic uncertainties stemming from the US-China trade war.

Singapore has revised its 2025 GDP growth forecast to a range of 0-2% due to the impact of US President Donald Trump's tariffs on global trade, the Ministry of Trade and Industry (MTI) announced on Monday.

The Monetary Authority of Singapore (MAS) has eased monetary policy for a second consecutive time in response to economic concerns arising from the ongoing US-China trade war and a downward revision of core inflation expectations for the year.

MTI highlighted that the US has imposed a baseline tariff of 10% globally, with higher tariffs on countries with significant trade surpluses with the US. This development is expected to heavily impact global trade and economic growth, negatively affecting the regional economic outlook.

(With inputs from agencies.)