Of course this is the smartest move. At 10%, it is already the lowest and Trump has promised more tariffs if the countries retaliate. No point trying to retaliate and get even more tariffs. Better to explore alternative options like trading with other partners as far as possible instead of facing this problem the hard way and sparking off a greater trade war and making both parties even worse off... In the short term, the STI will crash due to the uncertainty and our dependence on the other countries as a small, open economy. REITS, banks and other SG-based logistics will see headwinds till a new equilibrium can be found such as new opportunities and new partners.
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