Trump tariffs: Singapore to form task force to help businesses and workers, says PM Wong
The newly formed task force is still working out the details of its composition and key tasks, but one of its focuses will likely be on communication and information sharing, he added.
China state firms pledge to boost share purchases to calm markets
To increase share investment while a slew of listed firms announced share buybacks as Beijing stepped up efforts to stabilise a stock market rocked by U.S. tariff woes.
Billions wiped off Singapore banks as Asia market carnage worsens; STI drops 8.5%, HK plunges 12.6%
This marked the largest intraday decline since the STI crashed 8.9 per cent during the subprime mortgage crisis on Oct 24, 2008,
China hits back hard in global trade war with tariffs on US goods
China announced additional tariffs of 34 per cent on US goods on April 4, striking back at US President Donald Trump and escalating a trade war that has fed fears of a recession,
EU hits back at Trump’s trade war with US$28 billion in tariffs on US imports
The 27-nation bloc faces 25 per cent import tariffs on steel and aluminium and cars and “reciprocal” tariffs of 20 per cent from Wednesday for almost all other goods.
‘Larger-than-expected’ tariffs mean higher inflation, slower growth: US Fed chief Powell
Mr Powell spoke as equity markets from Tokyo to London to New York continued a swoon that has wiped some 10 per cent off major US stock indexes
Singapore retail sales fall worse-than-expected 3.6% in February; tariffs darken outlook
Data from the Singapore Department of Statistics (SingStat) on April 4 showed retail sales slipped 3.6 per cent year on year in February – partly due to the timing of Chinese New Year.
S’pore spared from worst-case scenario on Trump tariffs, but likely to be hit by global trade slowdown
Concerns over the outlook were reflected in the stock market, with the benchmark Straits Times Index closing 0.3 per cent down at 3,942.23 points on April 3.
Economists cut growth forecasts for Asia after Trump tariffs
Credit ratings agency Fitch warned that if tariffs remain in place for a prolonged period, “many countries will likely end up in a recession. You can throw most forecasts out the door”.
US emerges as biggest loser in markets from Trump’s tariffs
US equity index futures tumbled more than 4 per cent after Trump announced a sweeping series of tariffs following the market close on Wednesday (Apr 3),
UOB lowers interest rate on flagship One Account following OCBC’s 360 Account cut
With effect from May 1, the maximum interest rate will be cut to 3.3 per cent per annum on the first $150,000, down from 4 per cent.
See Trump’s list: More than 180 countries and territories facing reciprocal tariffs
But that halved figure includes “the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating,” he said.