The Daily Ketchup How SG is responding to US Tariffs (ft. DPM Gan Kim Yong)
Apr 14, 2025
In this engaging discussion, Deputy Prime Minister Gan Kim Yong, Singapore's Minister for Trade and Industry, shares insights from his diverse career, including his pivotal role during the COVID-19 pandemic. He dives into the impact of US tariffs on Singaporean businesses and highlights the growing challenges in free trade. Gan recounts personal anecdotes that reveal his lesser-known hobbies, while also expressing pride in innovative healthcare initiatives and the crucial importance of strategic investments amidst changing global trade dynamics.
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DPM Appointment
- Gan Kim Yong received a call from Lawrence Wong about being appointed DPM.
- His wife's reaction was similar to his: surprise.
Impact of Tariffs
- Tariffs create uncertainty, causing businesses to hesitate in investment.
- A global economic slowdown could negatively impact Singapore's open economy.
Government Response
- Businesses are already experiencing the impact of tariffs and seeking government assistance.
- A panel has been established to address these short-term impacts and navigate the changing trade landscape.