DPM Gan's tariff taskforce to have Desmond Lee, Josephine Teo, Tan See Leng, Chee Hong Tat & tripartite partners

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong shared details about the Singapore Economic Resilience Taskforce on Apr. 16, 2025.

The taskforce was announced by PM Lawrence Wong in his Ministerial Statement on U.S. Tariffs and Implications on Apr. 8.

The taskforce, in turn, aims to help businesses and workers through the uncertainties brought on by the tariff.

Who are in the taskforce?

Chaired by DPM Gan Kim Yong, the taskforce comprises:

• Minister for National Development and Minister-in-charge of Social Services Integration Desmond Lee
• Minister for Digital Development and Information and Second Minister for Home Affairs Josephine Teo
• Minister for Manpower and Second Minister for Trade and Industry Tan See Leng
• Minister for Transport and Second Minister for Finance Chee Hong Tat
• Chairman of the Singapore Business Federation (SBF) Lim Ming Yan
• Secretary-General of the National Trades Union Congress (NTUC) Ng Chee Meng
• President of the Singapore National Employers Federation (SNEF) Tan Hee Teck

Mark Lee, vice chairman of SBF, was sitting in for Lim Ming Yan during the conference.

What does the taskforce do?

DPM Gan said that the taskforce will deliver three key workstreams.

The first is Sensemaking and Communication, which ensures communication between the government, businesses, and workers.

The purpose is to provide updates on the latest developments and how existing government schemes and measures can support businesses and workers.

This will be co-led by Teo and Lim.

Addressing Immediate Challenges, the second workstream, identifies pain points and immediate challenges that businesses might face, before reviewing or enhancing support measures, if needed.

This will be co-led by Ng, Tan Hee Teck, and Tan See Leng.

The third workstream, Longer-Term Strategies and Responses, will develop strategies to transform Singapore's businesses and worker, and strengthen resilience in the new economic landscape.

This will be co-led by Chee and Lee.

All three workstreams will be working together.

The taskforce will begin engaging businesses over the next few weeks and provide regular updates on its work.

Facing "most serious challenge to global rules-based economic order"

The formation of the taskforce comes on the back of global tariffs that U.S. President Donald Trump had imposed on its trading partners, including on Singapore, and higher "reciprocal" tariffs on certain nations, which he has since placed a 90-day pause on.

DPM Gan laid out how smaller countries like Singapore are at a disadvantage if the rules-based multilateral system is being undermined by "the disorderly imposition of tariffs and retaliatory measures".

He also laid out the possibility that if other countries decide to follow the US and take targeted measures against specific countries. The countries with the strongest economies will then have a better bargaining power, while smaller economies like Singapore would be disadvantaged.

Top photo by Khoo Wen En