Trump introduces new trade tariffs reshaping global economic landscape

U.S. President Donald Trump has introduced new trade policies, including a 25% tariff on Canadian and Mexican imports and a 10% tariff on Chinese goods. These measures aim to exert political pressure and mark a shift from previous targeted tariffs. Trump's recent announcement of "reciprocal tariffs" could raise import rates to match those imposed by other countries. This approach may disrupt global supply chains and increase costs for businesses, particularly affecting trade-dependent economies like Singapore. While some businesses in Singapore face challenges from these policies, others see potential opportunities. Companies are exploring regional partnerships and diversifying supply chains to adapt to the changing trade landscape.