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PM Lawrence Wong Reacts to New US Tariffs – What It Means for Singapore and the World. Are We Entering a New Cold War in Trade? PM Lawrence Wong Explains PM Lawrence Wong on implications of US tariffs for Singapore. Trump put a minimum of 10% on all countries, irrespective of their tariffs. Easy to understand, respectful, worth the time of day to listen to. Coming from Singapore, one of the most cautious, pragmatic, geo-politically and strategically smart nations on earth, sit up and take notice. In a striking and timely address, Singapore’s Prime Minister Lawrence Wong delivers a sobering message about the future of the global economy. As the United States moves away from the rules-based trade systems it once helped build, the world is entering a more fragmented, protectionist, and dangerous phase. Wong's speech marks a wake-up call not just for Singaporeans, but for nations around the world that rely on multilateralism and open markets.