Tariffs hit consumer electronics the hardest: Experts

The consumer electronics sector may be hit the hardest by the US tariff “bomb”, and consumers may face the pressure of rising commodity prices next. DPM Gan Kim Yong said in an interview on 3 Apr that the impact of the new tariffs on Singapore's economy cannot be underestimated, and the authorities will reassess full-year economic growth and may lower the forecast. NTU’s Asst Prof Ye Guangzhi said that from a macroeconomic perspective, lower economic growth and increased costs and instability may lead to job losses and corporate layoffs. In addition, the downward adjustment of the economic outlook will have an impact on investments and productivity, further impacting the job market.

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