No intention of 'downplaying tariffs': PSP's Leong Mun Wai calls for new trade deal with US

Leong Mun Wai, secretary-general of the Progress Singapore Party (PSP), has called on the Government to negotiate a new trade deal with the US following the latest imposition of tariffs by President Donald Trump.

On Wednesday (April 9), Leong, speaking on behalf of his party, posted a statement on his Facebook page, acknowledging the concerns of Singaporeans.

"We should take this opportunity to secure a new trade deal with President Trump and work with the US to address their concerns, which may include making adjustments to internal policies or making strategic investments in the US," he said.

He added that Singapore is currently at a "key inflection point" that either strengthen the nation as a key economic powerhouse in the region or sideline it as a global trading hub and hoped that the Government would "secure the best deal" for Singapore.

The Non-Constituency Member of Parliament also responded to Prime Minister Lawrence Wong's speech in Parliament where he warned of a potential recession and announced a new task force formed to help businesses and workers navigate the impact of the tariffs.

Leong echoed PM Wong's sentiment that Singaporeans should "not fear" the tariffs.

He emphasised that the PSP had "no intention of downplaying the new tariffs", considering how they are a major "game-changer" that poses a threat to "the post-war system of free trade and globalisation".

The PSP had earlier called fears surrounding the tariffs "overblown" at a media conference on Sunday (April 6), where chairman Dr Tan Cheng Bock said that the risks laid out by the Government were "partly to instil fear in the voter".

Read Also

singapore

Govt's response to US tariffs 'partly to instil fear': PSP chairman Tan Cheng Bock

Leong sympathised with the concerns of Singaporeans, especially those who may be worried about their jobs and livelihoods amidst the extreme economic uncertainty that has ensued following the announcement of tariffs.

He argued, however, that Singapore has "a good track record" of navigating tough challenges like the 1970s oil crisis and the recent Covid-19 pandemic. 

"We are confident that we will be able to find our way forward to adapt to a new era of deglobalisation and protectionism," added Leong.

He also added that it is imperative to allow for "free contestation of ideas, and not groupthink" amid the current adversity, a sentiment also shared by vice-chairperson Hazel Poa on Sunday.

"As a nation, we will be stronger if we can have robust policy debates with different views expressed in Parliament as we adapt to this new world order," he said.

Leong concluded by reiterating the PSP's stance on foreign policy, saying that they will always act in support of national interest.

"We will always put country ahead of party even as we challenge the PAP on its policy ideas," said Leong.

The Workers' Party (WP) also posted a statement on Tuesday, regarding the tariffs that have "undeniably upended the global trade compact".

The party called for a "rational and pragmatic approach" on both the international and domestic front, in which the Government "should immediately commence bilateral negotiations" with the US.

It also called on the Government to capitalise on Singapore's partnerships Asean countries and other larger trading blocs like the Regional Comprehensive Economic Partnership.

On a national level, the party called for stronger social safety nets and better protections for workers, which are "even more pressing today, in a time of heightened uncertainty".

dana.leong@asiaone.com

For more original AsiaOne articles, visit here.