SINGAPORE, April 8 (Xinhua) -- Singaporean Prime Minister Lawrence Wong on Tuesday criticized recent U.S. tariff measures, saying that they violate the free trade agreement between the two countries and represent "a fundamental rejection of WTO rules."
In a speech during a parliamentary session, Wong noted that Singapore runs a trade deficit with the United States.
"If the tariffs were truly reciprocal and if they were meant to target only those with trade surpluses, then the tariff for Singapore should be zero. But still, we are being subjected to the 10 percent tariff," Wong said.
Wong noted that the so-called "reciprocal tariffs" violate the most favored nation principle in the WTO's multilateral trading system, and will "accelerate the fracturing of the global economy."
U.S. President Donald Trump last week signed an executive order introducing a 10-percent "minimum baseline tariff" on all imports, including those from Singapore, with higher rates applied to certain trading partners. Enditem
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