Economy

As major exporters brace for impact and manufacturing faces soaring costs due to increased steel tariffs, consumers could be hit hardest, with average U.S. households facing a potential USD 2,500 hike in yearly expenses.

As global markets flux and geopolitical unrest makes investors skittish, one city-state is fast emerging as a safe diversification play.

Global trade is shifting as nations actively pursue regional agreements in Latin America, the Middle East, and ASEAN. Driven by a desire for enhanced economic cooperation and diversified partnerships beyond traditional Western markets, these deals focus on tariff reduction and increased market access.

Countries in the Middle East and Asia-Pacific are seizing opportunities amid US-led tariff hikes, by diversifying their economies and forging new partnerships. Despite the IMF downgrading global growth forecasts, there’s optimism that strengthening regional ties is helping to build long term resilience - with or without the US.

Trump’s latest shock 145% tariff on China, amid a pause for others, reignited trade tensions and drew swift retaliation. Despite brief market gains, analysts warn the damage to global trade and investor confidence may already be irreversible.

The recent ASEAN Economic Ministers' Retreat in Johor focused on economic resilience and digital transformation amid global trade tensions.

Global government debt has reached the size of the world economy, and if not urgently addressed, rising debt costs and economic instability could lead to an unavoidable crisis.

The Asian Development Bank (ADB) projects Southeast Asia’s economy to grow by 4.7% in 2025, fuelled by booming manufacturing exports and public capital investment. As US-China tensions intensify, the region must navigate geopolitical risks and trade fragmentation to fulfil its aspiration to become a global supply chain hub.