High tariffs may result in multinational enterprises (MNEs) relocating back to produce in the US for the US. If this happens, it will have an impact on Singapore's economy.

Prime Minister Lawrence Wong noted that MNEs will also want to reconfigure their supply chains and invest in Asia for Asia.

These are new opportunities that can create good jobs for Singaporeans if the country’s business and political environment is stable.

He also spoke about jobs for new graduates, the retrenched and those in the workforce.