Summary: The International Monetary Fund (IMF) has lowered its 2025 growth forecast for Singapore to 2%, down from 2.5%, due to the impact of US President Donald Trump’s global tariffs and the escalating US-China trade war. The IMF also downgraded the growth forecast for the ASEAN region to 4.1%, citing weaker global demand, reduced trade, tighter financial conditions, and heightened uncertainty. The IMF suggests that ASEAN can mitigate the effects of the trade war by diversifying export markets, increasing regional integration, and leveraging digitalization to boost productivity and job creation.

Link: https://www.straitstimes.com/business/economy/imf-cuts-its-singapore-2025-growth-forecast-as-trump-tariffs-us-china-trade-war-bite