REACH (Telegram) 85 - What are your views on SERT’s latest measure to support local businesses? How can we continue to support local businesses and workers amidst this uncertain environment?
(SK)
10 Jul 2025 (10am - 7pm)
REACH (Telegram)
REACH Singapore, [10/7/2025 3:14 pm]
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REACH Singapore, [10/7/2025 3:17 pm]
📢 Topic 📢
During an update on 10 July (Thursday), the Singapore Economic Resilience Taskforce (SERT) announced that Singapore companies will be able to tap on a new grant to help them adjust to the new tariff environment. Minister of Manpower Dr Tan See Leng said the Business Adaptation Grant, to be launched by October 2025, will be capped at $100,000 per company and require co-funding by firms.
SMEs will receive a higher level of support, while larger companies will be eligible for a smaller quantum. More details will be announced in October.
💬 What are your views on SERT’s latest measure to support local businesses? How can we continue to support local businesses and workers amidst this uncertain environment?
📌 Support for business
Dr Tan said the grant will support two broad groups of businesses. For firms that export to or operate in overseas markets, it will cover advisory services related to free trade agreements, trade compliance, legal and contractual matters, supply chain optimisation and market diversification. For businesses with local or overseas manufacturing operations, the grant can help to defray reconfiguration costs such as logistics and inventory-holding expenses.
📌 1st August Tariff deadline
SERT's update comes as US president Trump continues to send letters to countries informing them that they would be subject to sharply higher tariffs from Aug 1. While Singapore has not received a letter, neighbouring countries such as Malaysia and Indonesia will face tariffs of 25 per cent and 32 per cent respectively. Deputy Prime Minister Gan Kim Yong noted that tariffs for some countries in Asia were reduced from what was initially announced in April, but others will see higher levies.
👉https://www.channelnewsasia.com/singapore/sert-economic-resilience-business-grant-tariffs-5228891
👉https://www.straitstimes.com/business/economy/spore-to-launch-new-grant-for-companies-expand-support-for-workers-amid-us-tariff-uncertainties
----
REACH Singapore, [10/7/2025 3:35 pm]
[ Poll : I am confident that the Business Adaptation Grant will help businesses adapt to the uncertain environment. ]
- Strongly Agree
- Agree
- Neutral
- Disagree
- Strongly Disagree
REACH Singapore, [10/7/2025 3:36 pm]
[ Poll : I am concerned about the impact of the US tariffs. ]
- Very concerned
- Concerned
- Neutral (taking a wait and see approach)
- Unconcerned
- Very unconcerned
REACH Singapore, [10/7/2025 3:36 pm]
Dear Contributors,
Please take a moment to participate in our polls 📊 and share your opinions 💭. The poll questions are pinned for easy reference, and your vote is anonymous.
We look forward to hearing your thoughts on today’s topic!
Thank you.
Megan
LCL (Danny 心), [10/7/2025 3:50 pm]
1. Notice that the interim measures are supporting the business in the uncertain world - which could help businesses to pull through for the time period.
2. But what needs attention is the fresh graduates - that have difficulties in securing jobs.
RY, [10/7/2025 3:52 pm]
Our govt always come out with appropriate grant to assist biz in crisis/event
USA TACO unstability and always-changing policy/words are certainly affecting the whole world trade/economy
Most of the goods & services prices increased due to the sudden announcement by TACO on 2Apr
SG is a export-oriented and depends heavily on intl trade
Hence it is impt that the govt shd step in and help the biz. And grant is one of way to tackle the increasing prices
Vijay, [10/7/2025 3:52 pm]
Concern about the job market for experienced and fresh graduates over US’s trade policies. It could be a cascading effect.
LCL (Danny 心), [10/7/2025 3:55 pm]
3. Out of all my nephews and nieces graduating this year from the Universities, only one has a scholarship to do his PhD sponsor by a company.
4. But the rest have yet to secure a job.
5. Even companies that have offered internships to them say they are not recruiting - as business is uncertain.
6. Despite sending resumes to many companies, there are no reply.
7. I feel that the government should work with Universities, IHLs, business, e2i and NTUC to help fresh graduates to secure their jobs.
8. This phenomenon is affecting their entire cohorts in the various faculties.
9. I think the situation is quite serious.
LCL (Danny 心), [10/7/2025 3:58 pm]
"Govt watching job situation for fresh graduates closely, exploring further support: Gan Siow Huang"
https://www.straitstimes.com/singapore/govt-watching-job-situation-for-fresh-graduates-closely-exploring-further-support-gan-siow-huang#:~:text=Govt%20watching%20job%20situation%20for%20fresh%20graduates%20closely%2C%20exploring%20further%20support%3A%20Gan%20Siow%20Huang
LCL (Danny 心), [10/7/2025 4:00 pm]
10. Some who manage to secure a jobs are internship and not permanent jobs.
LCL (Danny 心), [10/7/2025 4:02 pm]
‘I applied to over 300 jobs’: What people wish they knew before they got laid off.
https://www.straitstimes.com/life/i-applied-to-over-300-jobs-what-people-wish-they-knew-before-they-got-laid-off
LCL (Danny 心), [10/7/2025 4:02 pm]
"NUS Computer Science grad yet to land job despite sending hundreds of applications".
https://theindependent.sg/nus-computer-science-grad-yet-to-land-job-despite-sending-hundreds-of-applications/#:~:text=2%20min.Read-,NUS,-Computer%20Science%20grad
LCL (Danny 心), [10/7/2025 4:03 pm]
‘I have been job hunting since February and till now I still have no luck in getting a job’ — new NTU grad says - Singapore News.
https://share.google/fs7aEtBNa85AQZB57
LCL (Danny 心), [10/7/2025 4:04 pm]
"Why Singapore’s fresh grads are struggling to get hired.
As job offers disappear and rejection e-mails pile up, Gen Zs are stepping into a gloomy job market.
Will this be a passing shower or a prolonged downpour?"
https://www.businesstimes.com.sg/opinion-features/why-singapores-fresh-grads-are-struggling-get-hired#:~:text=Why%20Singapore%E2%80%99s%20fresh,a%20prolonged%20downpour%3F
RY, [10/7/2025 4:05 pm]
The govt already announced and closely monitoring
Believe our govt may do something abt the job mkt in near future
Anyway not only fresh graduates job searching are affected, many matured workers jobs are also affected by the mkt instability, and increased cost of living
So we shd not be focusing on just fresh graduates only
Fresh graduates may further their study if job mkt is not gd
Matured workers may have to focus on SkillsFuture and further training
365, [10/7/2025 4:08 pm]
The job hunting issue lacks reliable statistics. We don't know what is the cause, is it misaligned expectations or poor interview skills or other factors. When I graduated there was also doubts over the job market, but I didn't take long to secure an offer, though the pay was considered on the lower end for graduates.
I'm not saying that it's always the job hunter's issues, but without a reliable statistics on the actual reasons why, annectodal evidence isn't much help.
365, [10/7/2025 4:10 pm]
The media will also have a sample bias, only those who can't land a job will be sounding out their dissatisfaction. While those who were successful won't be very vocal about landing a job in our culture.
RY, [10/7/2025 4:20 pm]
We shd be speaking for all age-grp of people looking for jobs and not only fresh graduates
During the past crisis eg sub-prime/asian financial crisis/covid19 and etc, they are also fresh graduates that time whom were affected, and also many matured workers were laid off too
Hence our govt when assisting job hunters, they shd be focusing all age-grp whether they are fresh graduates/matured workers/elderly and etc,
Being young fresh graduates, they have so many options avail for them eg further study/online bloggers/starting own biz/travelling/volunteering and etc
Matured workers may req more assistance, as most have family/elderly/mortgages/children/medical and etc, and hence their financial burdens are much more than any fresh graduates
LCL (Danny 心), [10/7/2025 4:23 pm]
1. In my opinion, both fresh graduates and mature workers will need help to get jobs when the job market turn sour.
2. Because fresh graduates also need to pay off study loans that are not cheap.
Not many can afford to keep studying.
3. Many also need to work to support the family as their parents are retiring or have retired.
LCL (Danny 心), [10/7/2025 4:24 pm]
4. Some are engaged and are planning to get married and start a family - but unable to secure a job.
REACH Singapore, [10/7/2025 4:28 pm]
➡️ Graduates should ‘stay calm’, with early data showing better employment rates: Tan See Leng
https://www.businesstimes.com.sg/singapore/graduates-should-stay-calm-early-data-showing-better-employment-rates-tan-see-leng
LCL (Danny 心), [10/7/2025 4:32 pm]
5. Of course mature workers will be more anxious as they have more financial commitments.
RY, [10/7/2025 4:35 pm]
I was also told b4 that many fresh graduates are mostly very choosy in terms of job hunting
Many jobs they didnt want to take up, maybe due to long hours/under the sun n etc
There are some industries in SG eg healthcare/F&B/retail/IT n etc that are always shortage of workers and foreign workers have to fill up
Hence fresh graduates may consider also, as not all the jobs are with air-con and sit in ofc always as we know
If the fresh graduates are not that choosy, there are many job opportunities out there esp for young people to venture/experience also
Yesterday news about shortage of teachers as per the Minister, during the graduation ceremony
https://share.google/n8XEdzFxFi8e4RUCJ
LCL (Danny 心), [10/7/2025 4:40 pm]
I think fresh graduates should also not be shortchange.
Eg. If the fresh graduates are trained in engineering, computer science - they should secure jobs in their trained professions and not ended up in f&b, construction or retail.
Else the trained talents are wasted when the industries are in short supply of such professionals but holding back recruitment because of uncertainties in the business.
Joomua Tng, [10/7/2025 4:42 pm]
maybe graduate should consider degree is like o level or diploma in the past.
no longer belong to the managerial job status of the past.
......
LCL (Danny 心), [10/7/2025 4:44 pm]
Actually all those University's trained degree are badly needed in the various industries.
In fact in short supply - if not for Trump nonsensical tariff war that throw the world economy into disarray.
Business erring on the caution side are holding back recruitment.
LCL (Danny 心), [10/7/2025 4:46 pm]
If all these professions decide to go into those not relevant service industries just for the salary - the whole cohort generations will lose one generation of respective trained professionals to service the various industries - when the temporary crisis blown over.
RY, [10/7/2025 4:46 pm]
Most of the Gen Z parents are around 40-60 now
And usually this age-grp of parents, whom are mostly educated and still working, and they already have their own retirement plan themselves, and dont really depend on the Gen Z children to support them
Gen X people are the most tedious, as their parents are mostly with little/no education/little savings, and now they are too old with med conditions, that the Gen X children have to look after them
Dr. Goh, [10/7/2025 4:47 pm]
Disagree. There is no way to plan if the jobs are handed to foreigners.
Dr. Goh, [10/7/2025 4:52 pm]
Even with PhD I saw new citizen with PhD looking for job overseas. It is bleak for all.
What the government can do is prioritise jobs for local born first. Control how many are brought in every year and make sure the jobs available aren't taken up by foreigners first. This can be done with a broad brush approach - companies with higher proportion of local born get better corporate tax rates and more government support. Those with low proportions pay punitive tax rates.
There is very limited space in Singapore so it has to be used for Singaporeans first. If it doesn't benefit Singaporeans then the companies have no business being here and government has to make them pay the social costs.
LCL (Danny 心), [10/7/2025 4:56 pm]
On another front, I think our government also should take note of the Maga Lago accord.
It is very detrimental to our sovereign fund.
RY, [10/7/2025 4:57 pm]
行行出状员
Working is also for experience purposely, and not mainly for monetary term
Eg engineer graduates career path is not nec to go into engineering industry, do U agree ?
Yr study may not nec end up in yr career path all the time
There is no rules that graduates cannot work in F&B/retail/healthcare and etc
We shd respect all jobs, and there is no low and high class type of mindset
LCL (Danny 心), [10/7/2025 4:59 pm]
Trump's tariffs turbocharge de-dollarization: World sells US dollar assets, seeking alternatives - Geopolitical Economy Report
https://geopoliticaleconomy.com/2025/05/05/trump-tariffs-dedollarization-sell-us-dollar/#:~:text=Trump%E2%80%99s%20tariffs%20turbocharge,alternative%20reserve%20assets
LCL (Danny 心), [10/7/2025 5:02 pm]
I am saying, if a person are trained in engineering and University allocation of place is to ensure industry talent is needed, put the graduate in the right job to meet the industry demand.
Not looking down on other profession.
When economy recovers, when engineers are needed, the whole cohort of engineers cannot be found.
This is the whole crux of the message.
And if a person is trained in computer science, let him do IT job.
And if a graduate is trained in sustainability, let him do the green energy.
Because all these talents take a lot of money and time to train.
If these graduates are redirected to other unrelated professions, all their trained expertise, government education subsidies, university efforts will be go to waste.
When economy recover and need such professions, the whole cohort in various industries suddenly in short supply and business cannot grow - impacting the entire economy.
LCL (Danny 心), [10/7/2025 5:03 pm]
Another concern is that the Trump administration could effectively default on US government obligations.
Trump’s top economic advisor, Stephen Miran, has proposed that Washington could force foreign countries *to exchange their outstanding Treasury holdings with 100-year bonds with no coupon (ie, no interest payment)*. That would mean that, with inflation, the value of these bonds would significantly decrease over time, and foreign nations would therefore be subsidizing the US government.
LCL (Danny 心), [10/7/2025 5:06 pm]
In a speech explaining Trump’s tariff strategy, Miran argued that countries “could simply write checks to Treasury that help us finance global public goods”.
This policy proposal is part of a hypothetical “Mar-a-Lago Accord” that the Trump administration wants to impose on US trading partners.
Chinese economists argue that this would constitute *a de facto US government default*.
The Financial Times quoted remarks made at a conference in April by a Chinese government advisor who previously was a member of the Monetary Policy Committee at the People’s Bank of China, Yu Yongding. He argued that *if the Trump administration did this, it would amount to a debt default*.
RY, [10/7/2025 5:06 pm]
Those parents btw 40-60 age grp, mostly already have own retirement ins plans/investment/cpf/saving and etc - may check around
Unlike those PG (more than 70 age) elderly parents, they dont have much saving and has little investment knowledge to plan for their retirement.
Also their earnings was little due to little/no education and just enough to bring up their Gen X children (whom are now around 40-60)
LCL (Danny 心), [10/7/2025 5:06 pm]
Yu said of Miran’s proposal, “That poses a huge threat to China, and we may end up paying a steep price”.
In China, the FT noted, “some influential scholars are now advocating a move towards outright de-dollarisation, rather than gradual adjustments to the mix of dollar-denominated assets”.
*Instead of buying more US Treasuries, Chinese officials are investing in the sovereign debt of other countries, especially from Europe. These include German bonds and Swiss bonds, as well as potentially even Japanese bonds*.
The People’s Bank of China has also been purchasing large sums of gold.
The central banks of many other countries, especially those that are members of or have expressed interest in joining BRICS, have piled into gold in the past decade.
This is a major reason why the price of gold has skyrocketed.
RY, [10/7/2025 5:09 pm]
In layman term, writing chq to US Treasury are just simply "bribery/corruption"
When the govt shd be supposingly to look after own citizens and not the US govt/americans
LCL (Danny 心), [10/7/2025 5:11 pm]
The Maga Lago accord is a serious threat if Trump administration ever carried out.
We have US $260 billion stuck in Treasury bonds.
RY, [10/7/2025 5:12 pm]
Putting people in the right job, this depend on the job hunting person, whether he/she is looking what type of job, and whether he/she accepts the job offer ultimately
RY, [10/7/2025 5:16 pm]
Yep, I hope MAS/Temasek/GiC may consider other investment means eg gold, as US Treasury is no longer a stable asset, as downgraded by many financial rating co eg Moody
LCL (Danny 心), [10/7/2025 5:19 pm]
"ECONOMYTrump advisor reveals tariff strategy: Force countries to pay tribute to maintain US empire.
Donald Trump’s top economic advisor Stephen Miran revealed that Washington’s strategy is to use tariffs to force countries to pay the USA tribute to maintain its global financial and military empire. This is the idea behind the so-called “Mar-a-Lago Accord”."
https://geopoliticaleconomy.com/2025/04/10/trump-advisor-miran-tariff-pay-us-empire/#:~:text=Geopolitical%20Economy%20Report-,ECONOMY,is%20the%20idea%20behind%20the%20so%2Dcalled%20%E2%80%9CMar%2Da%2DLago%20Accord%E2%80%9D.,-By
RY, [10/7/2025 5:20 pm]
No investor would be unwise to invest in such 100yr treasury bond with zero interest
Nobody knows what may happen a century later also
LCL (Danny 心), [10/7/2025 5:23 pm]
If the Maga Lago accord ever carried out, US credibility will fall to the rock bottom.
Big capital outflow, will happen.
US financial market will collapse not restricting to bond market - which in fact will become "junk bonds".
US equity market, banking, insurance and other financial market will collapse - as investors will pull out and flee the US market.
US $ will also collapse because world countries will no longer trust US $.
So Trump administration got to be very careful if indeed they want to proceed into Maga Lago accord.
LCL (Danny 心), [10/7/2025 5:26 pm]
No investors will commit to 100 year bond with no interest rate.
But Trump can arm twist all the bond holders if he discover that he can do so with impunity.
LCL (Danny 心), [10/7/2025 5:36 pm]
US $36 trillion + $2.5 trillion debt is their nemesis.
And if they meddle with the bond market going through the Maga Lago accord - essentially, Trump is expediting the falling of the US empire - when all investors in unison exit out of US financial market.
REACH Singapore, [10/7/2025 5:38 pm]
➡️ Singapore to roll out business grants in October amid Trump tariff pressures
https://www.straitstimes.com/business/dpm-gan-plans-us-visit-to-discuss-tariffs-business-opportunities-for-singapore
LCL (Danny 心), [10/7/2025 5:38 pm]
"Trump says steep copper tariffs in store as he broadens his trade war.
US pharmaceutical stocks also slid following Trump's threat of 200 per cent tariffs on drug imports".
https://www.channelnewsasia.com/world/donald-trump-steep-copper-tariffs-trade-war-us-5227391#:~:text=Trump%20says%20steep,on%20drug%20imports
RY, [10/7/2025 5:42 pm]
SG has a smart govt, that is why SG enjoy surplus in most Natl Budget, with MAS/GIC/Temask investments
Everybody knows what is behind this Maga Lago Accord
USA TACO Trump always used threatening and forcing strategies to other countries
So it depends on gd/smart is the other country govt to deal with TACO (Trump always chicken out)
See how China deals with TACO and how USA finally compromise in the end
As per Canada foreign minister suggestion, we shd kick USA out of the WTO, and make the world trade more prosperous without USA
Rem TACO words always changing, and even if U give in, TACO will sure ask for more later, as we all know they are just a grp "bully"
LCL (Danny 心), [10/7/2025 5:46 pm]
"Trump takes on the Fed – but he has little power over central bank, economists say".
https://uk.finance.yahoo.com/news/trump-takes-fed-little-power-110006533.html#:~:text=Trump%20takes%20on%20the%20Fed%20%E2%80%93%20but%20he%20has%20little%20power%20over%20central%20bank%2C%20economists%20say
RY, [10/7/2025 5:48 pm]
The world financial mkt must learn fm this TACO episode also
Never depend on any single country currency/treasury/swift system, see how Iran/Cuba/Russia/NorthKorea suffers due to sanction
Also Never sign any Accord initiated by USA, see how Japan economy downfall for the past 20-30 years
RY, [10/7/2025 5:50 pm]
Lucky Mr Powell is still the chairman of Federal Reserves
LCL (Danny 心), [10/7/2025 5:51 pm]
Another front that I want to highlight is Trump interference of Fed in managing the monetary policy.
Singapore interest rate like HK are somehow align to Fed interest rate.
But Trump in May 2026 will be appointing a compliant Fed Chief - that will have direct influence in administering monetary policy.
In which White House has full control over its fiscal policy.
When this happens, US economic and financial turmoil will ensue.
Because a good economic policy is where monetary policy must be independent of the executive who are formulating the fiscal policy.
Else economic turbulence will ensue.
Hence MAS will need to seriously study whether Singapore interest rate need to closely aligned with US Fed interest rate come May 2026 next year.
LCL (Danny 心), [10/7/2025 5:52 pm]
Economists have found that countries *without central banks* are prone to *high inflation and unemployment*.
“A central bank’s independence is pretty much the only thing macroeconomists know of that’s a free lunch,” said Jason Furman, a former economic adviser to Barack Obama.
“When you look at *authoritarian leaders that have effectively taken over the central banks*, like in *Turkey, you can end up with 70% inflation rates* and really, really *big economic problems*.”
RY, [10/7/2025 5:54 pm]
Agree
Hope americans are wise to elect a "good sense" President going forward
LCL (Danny 心), [10/7/2025 5:54 pm]
"1965: The Year the Fed and LBJ Clashed.
The storied showdown between Fed Chairman Bill Martin and President Lyndon Johnson wasn't just about personalities. It was a fundamental dispute over the Fed's policymaking role."
Highlight that separation of FED decision making in monetary policy from White House is so important.
https://www.richmondfed.org/publications/research/econ_focus/2016/q3-4/federal_reserve#:~:text=1965%3A%20The%20Year,Fed%27s%20policymaking%20role.
RY, [10/7/2025 5:55 pm]
Learn fm past history always
LCL (Danny 心), [10/7/2025 5:58 pm]
Trump is not learning from past mistakes.
He is repeating:-
1. Tariff war that lead to deep depression in 1930s in which tariff is about 11% to less than 20%.
Trump tariff is 10, 25,..... 200%.
2. 1930s deep depression lead to WW2.
3. Trump repeating the mistake of White House interference on Fed.
REACH Singapore, [10/7/2025 6:04 pm]
📢 Topic 📢
RY, [10/7/2025 6:10 pm]
Bec TACO thinks he is god
Even recent Brics Meeting, he threaten Brics countries and Brazil
USA not even Brics members, but meddling into Brics affairs
RY, [10/7/2025 6:13 pm]
https://www.straitstimes.com/world/united-states/tremendous-opportunities-for-growth-in-us-singapore-ties-says-trumps-ambassador-nominee-sinha
RY, [10/7/2025 6:19 pm]
Recent news fm StraitsTime, I hope this Dr Anja will not be USA ambassador in SG - no knowledge abt US-SG relationship
Trump always nominate not capable people in the different postition eg Fox News anchor as US Defence Minister, he didnt even know which countries in ASEAN, when he spoke in recent ShangriLa Dialogue
RY, [10/7/2025 6:38 pm]
Although I dont like Elon, but I still hope that he may set up a new Party in USA, besides Democratic/Republican, so that there are some other "voices" to speak/defend the unreasonable bills by TACO
Trump is the 1st President in USA that his wealth grows quad-fold during presidency, due to insider trading and cryptocurrencies
Jun Ming, [10/7/2025 6:41 pm]
You need to see if what they are studying fit
Jun Ming, [10/7/2025 6:42 pm]
Sorry been scrolling through the messages
LCL (Danny 心), [10/7/2025 6:43 pm]
Not meant to interfere with American politics.
But Elon party policy direction is not clear.
Both democrats and republican parties value system have some good points and some bad ones.
Neither party on its own is good.
My personal opinion.
Jun Ming, [10/7/2025 6:47 pm]
But I think no direction is the best direction. I think a technology corporate boss is better than a business man
Jun Ming, [10/7/2025 6:47 pm]
Anyway we still got 3- 4 years with trump
Jun Ming, [10/7/2025 6:48 pm]
Let's focus on how to deal with trump
LCL (Danny 心), [10/7/2025 6:48 pm]
If we can survive this 4 years.
365, [10/7/2025 6:49 pm]
It's the cards we're dealt with, can only play to the best that we can. We don't have the capabilities to flip table.
Jun Ming, [10/7/2025 6:50 pm]
Trump actions is basically flipping the table
365, [10/7/2025 6:51 pm]
Yeah, US can, SG cannot
Jun Ming, [10/7/2025 6:52 pm]
Now we have a baseline on the 10% tariff. So what can we do
Jun Ming, [10/7/2025 6:52 pm]
Either giving the 10% back to us consumer or suck thumb to pay part of 10 or all of the 10
Jun Ming, [10/7/2025 6:53 pm]
I think that's the only option businesses can do
RY, [10/7/2025 6:55 pm]
It is a gd initiative for SG
govt to help biz during this 'man-made tariff crisis"
If the biz can survive during this crisis with govt assistance, when most costs are increasing, then people may keep their jobs ...
Just like the Cdc vouchers helping families in SG, to tackle with the increasing cost of living
365, [10/7/2025 6:55 pm]
I think this highlights the importance of a strong economic alliance. ASEAN really isn't in an ideal position that we will band together against outside forces.
I doubt BRICS is not an option for Singapore in the near future due to our stance against Russia
Jun Ming, [10/7/2025 6:56 pm]
Attract more regional business to do transfer? Will it cause sg kena more tariff?
RY, [10/7/2025 6:56 pm]
I pray hard that TACO maybe impeach soon ..
RY, [10/7/2025 6:57 pm]
Agree and Russia will not accept SG as BRICS member also
Jun Ming, [10/7/2025 6:57 pm]
So I think don't do anything is the best
365, [10/7/2025 6:57 pm]
If we have a strong economic alliance, then Trump flip table we can just open another one. Now he flip table but we can't do anything except to carry on. Let's say if we ideally can expand until ASEAN + China + EU, then we just let Trump throw a tantrum and open another table ourselves, who cares.
RY, [10/7/2025 6:58 pm]
Sg is too small to have much influence in the world mkt
Jun Ming, [10/7/2025 6:58 pm]
So you mean don't export to us?
365, [10/7/2025 6:58 pm]
Basically the stronger and larger an economic alliance is, the less likely that any single nation will be able to flip table and get away with it.
365, [10/7/2025 6:59 pm]
Don't export lor, we have other countries. We enclose and block out US and USD. That is an ideal scenario of a strong economic alliance, which currently does not exist.
Jun Ming, [10/7/2025 6:59 pm]
A union except us?
RY, [10/7/2025 7:00 pm]
Best is to kick USA out of the WTO system
Since TACO dont honour FTA sign earlier
365, [10/7/2025 7:00 pm]
You don't allow any single player to throw a tantrum
Jun Ming, [10/7/2025 7:00 pm]
The thing is business that works with us will kena
RY, [10/7/2025 7:01 pm]
Maybe EU may join RCEP in future ....
Jun Ming, [10/7/2025 7:01 pm]
And later sg cannot go Harvard
365, [10/7/2025 7:02 pm]
Sometimes, you need to take short term pain for long term benefits. Now you bite the bullet and tahan him, take the small loss, then you'll continue taking small losses in future.
Compared to you take a big and quick pain, then recover and thrive from then on. We don't even have this option to consider in the current political climate.
LCL (Danny 心), [10/7/2025 7:02 pm]
Many of our scholars in Harvard still stuck.
Visa not renew.
RY, [10/7/2025 7:02 pm]
How is the Harvard episode ?
Ard 100+ SG students still there
365, [10/7/2025 7:03 pm]
It feels like they are trying to convert countries into their vessel states without making it official
RY, [10/7/2025 7:05 pm]
Vessel states like HK ....
Jun Ming, [10/7/2025 7:05 pm]
I think these tariff will not last forever one. Next president will revoke it
RY, [10/7/2025 7:05 pm]
Exactly
LCL (Danny 心), [10/7/2025 7:06 pm]
Tariff once impose very difficult to remove.
365, [10/7/2025 7:06 pm]
Biden didn't remove the tariffs from trump's first term
Jun Ming, [10/7/2025 7:06 pm]
Not president command meh
LCL (Danny 心), [10/7/2025 7:06 pm]
Can assume US is no longer a good place to trade.
Must look for alternative replacement.
365, [10/7/2025 7:07 pm]
Besides, if the tariffs really work for them, then the next president to take it off will lose a lot of political standing. That's why it's best if we can make it not work in their favor.
LCL (Danny 心), [10/7/2025 7:07 pm]
Because local industries will insist on non removal of tariffs to protect their business from non competition.
Local workers expect their industry and jobs to be protected.
RY, [10/7/2025 7:07 pm]
FTA also can revoke, not to mention tariffs
365, [10/7/2025 7:07 pm]
Singapore individually don't have this power
LCL (Danny 心), [10/7/2025 7:08 pm]
Removal of tariffs often results in labour protest and militant Unions.
Steven Ong, [10/7/2025 7:09 pm]
A good lesson to every trading partner to diversify trading relationships
LCL (Danny 心), [10/7/2025 7:09 pm]
It takes decades of political will to push for globalisation and removal of tariffs.
RY, [10/7/2025 7:09 pm]
No smart leader will be as 'brainless" as TACO ...
Jun Ming, [10/7/2025 7:10 pm]
Just don't go us lor
Jun Ming, [10/7/2025 7:11 pm]
They are like a Pacific ocean away
LCL (Danny 心), [10/7/2025 7:11 pm]
US citizens will just have to live with high inflation and high cost of living.
Jun Ming, [10/7/2025 7:11 pm]
On the other side of the world, like we export many things to them
LCL (Danny 心), [10/7/2025 7:11 pm]
The world will lose one big consumption nation and one big market.
RY, [10/7/2025 7:12 pm]
Yes, every govt learning nowsaday not to depend on another country
Hard lessons for Japan/Korea/EU also
Jun Ming, [10/7/2025 7:12 pm]
More of we importing things from them
LCL (Danny 心), [10/7/2025 7:12 pm]
US form 10% of our total export about S$55 billion not that big.
China & HK we export more - double.
Hence we need to find new market, expand existing market or go into new areas that can replace our $55 billion.
Jun Ming, [10/7/2025 7:13 pm]
Like what we export sia
RY, [10/7/2025 7:13 pm]
USA just exporting services mainly and just few pdts eg planes (BOEING)
Jun Ming, [10/7/2025 7:13 pm]
On the other side of the world leh
Jun Ming, [10/7/2025 7:14 pm]
We also not a manufacturing country
Jun Ming, [10/7/2025 7:15 pm]
Other than some small lab and pharma stuff
Jun Ming, [10/7/2025 7:15 pm]
Which we import more
365, [10/7/2025 7:16 pm]
Machinery is the next biggest after all the medical stuff iirc
Jun Ming, [10/7/2025 7:18 pm]
I heard from Dou yin since service is not part of tariff they split the parts and sell lessons how to assemble them
Jun Ming, [10/7/2025 7:19 pm]
Just need to see what is exempted then we try to sell it through loop holes
365, [10/7/2025 7:20 pm]
Actually the biggest issue is the currency, I think if not for the USD being a global reserve, many more countries willing to just ignore them, even if it means giving up part of their business. Can slowly scale down. But the USD is holding all of them back.
RY, [10/7/2025 7:21 pm]
World leaders pls learn fm USD lessons
Steven Ong, [10/7/2025 7:25 pm]
One concern from this is the employment of the recent graduates.
RY, [10/7/2025 7:25 pm]
As per US law, only US Congress has the right for tariffs and not the President
Hope the americans themselves can stop this " Senseless Tariff" episode
No man can go above/ beyond the law/consitution
LCL (Danny 心), [10/7/2025 7:27 pm]
2 big components we export to US:-
1. Pharmaceutical
2. Semiconductor
We just need to scout around the world for customers to absorb our pharmaceutical and semiconductor of about $55 billion.
Then we will be safe.
But both these products are high value and high costs, only rich and developed countries can afford.
RY, [10/7/2025 7:27 pm]
Not only fresh graduates are impacted by this tariff episode, many matured workers are also
RY, [10/7/2025 7:28 pm]
China/Europe/Japan/Korea may absorb our semiconductor/pharma high-value pdts
365, [10/7/2025 7:30 pm]
Actually I'm quite curious, did we sell to them due to diplomacy, them being the highest bidder, or other factors? I don't think they won't be additional demand for those items from other countries.
If we have leftover stock then maybe it's worrisome. Else, it means we have more demand than supply. Need to know the actual facts.
LCL (Danny 心), [10/7/2025 7:30 pm]
China cannot.
US sanctions Malaysia.
We better don't fall into the same trap.
LCL (Danny 心), [10/7/2025 7:32 pm]
Not politics.
US consumers very rich, they buy many high price medicine.
They also buy many electronic and IT products.
LCL (Danny 心), [10/7/2025 7:33 pm]
US consumers are rich because they live on debt.
365, [10/7/2025 7:33 pm]
And how sure are we that there's no surplus demand from other countries that we haven't met yet? Because if that's all, then it's just a pricing issue, got negotiation leeway. Though the biggest headache is still the USD stranglehold after all.
RY, [10/7/2025 7:44 pm]
Oops, my bad ...
REACH Singapore, [10/7/2025 7:45 pm]
Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan 😊
RY, [10/7/2025 7:45 pm]
Many americans living in poverty also
RY, [10/7/2025 7:47 pm]
Due to MAGA & Harvard episode, US tourism already drop drastically
LCL (Danny 心), [10/7/2025 7:48 pm]
Yes.
We need to find the surplus demand from the rest of the world.
RY, [10/7/2025 7:48 pm]
US always busy sanction other countries over the years
LCL (Danny 心), [10/7/2025 7:48 pm]
That's why we need to be careful.
365, [10/7/2025 7:51 pm]
That's why more countries need to come together to ditch the USD and strip them of this unfair advantage. The idea that brics have is good, but the execution isn't there, especially with India blocking it
Jun Ming, [10/7/2025 7:51 pm]
But if USD falls which will be the next currency that dominate the world
Jun Ming, [10/7/2025 7:52 pm]
Don't buy us stock
Jun Ming, [10/7/2025 7:52 pm]
A lot people use usdt as a substitute
Jun Ming, [10/7/2025 7:52 pm]
Not so sure if it is safe
365, [10/7/2025 7:52 pm]
That's the idea that brics is having for a while already. A new global currency that isn't tied to any one country. It's just a pity that India isn't aligned and so nothing can be executed.
RY, [10/7/2025 7:53 pm]
Lets pray this Brainless Maga President may step down/impeach in near future
And the world trade maybe able to revert to normal
For all the bad deeds that USA done eg supporting Israel (genocider), US will sure have their karma one day
365, [10/7/2025 7:53 pm]
If not, there could be slow and steady adoption, and maybe could work within the next decade or 2
RY, [10/7/2025 7:55 pm]
Crazy India who oppose every agenda
India is just simply trouble-maker in most of Group eg BRICS, maybe with US "instruction"
RY, [10/7/2025 7:56 pm]
No country single currency shd dominate the financial world
A lesson that every country leader should learn fm USA episode
RY, [10/7/2025 7:58 pm]
Tks Reach Team and GdNite Participants 🙏
REACH Singapore, [10/7/2025 8:00 pm]
Dear Contributors
We will be closing the chat for today.
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan 😊
====
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