Singapore’s economic outlook brightens on US-China de-escalation, but tariff uncertainty remains

News Snapshot:

SINGAPORE - The outlook for Singapore’s export-driven economy has brightened as the world’s two largest economies stepped back from a tariff war that could collapse trade between them and trigger a global recession, analysts said. The United States and China agreed on May 12 to suspend their triple-digit reciprocal tariffs for 90 days for much lower levies while negotiations continue for a broader and sustainable trade deal. The three-month pause will see tariffs on US exports to China cut to 10 per cent from 125 per cent, while levies on Chinese exports will be reduced to 30 per cent from...