Is the global trading system under serious threat? How should Singapore businesses gird themselves for an environment of tariffs and possibly trade wars? Find out what Chief Executive Officer Jayaprakash Jagateesan shared with The Business Times
RHT Holdings Chief Executive Officer Jayaprakash Jagateesan was quoted in The Business Times’ Views From The Top article titled “On the brink of war?”.
The article was first published on 19 March 2018.
On the brink of war?
Monday, 19 March, 2018
THIS WEEK’S TOPIC: Is the global trading system under serious threat? How should Singapore businesses gird themselves for an environment of tariffs and possibly trade wars?
Chief Executive Officer
RHT Holdings Pte Ltd
WE knew the writing was on the wall from the time of Donald Trump’s presidential campaigning, with the US’s withdrawal from the TPP marking the first sign of what seems to be an imminent threat to global trade.
Should the tariffs and trade wars escalate, there may be a need for our government to step in to help soften the blow on businesses by further strengthening bilateral trade agreements and assistance programmes. In the face of broad brush tariff increases, businesses need to develop their competitive advantage to level the playing field. In our view, embracing disruptive technologies and undergoing a digital transformation will be key to staying competitive.