The Singapore central bank warns that the ongoing global trade war could pose greater risks to economic growth and inflation, with the first round of tariffs expected to affect 60% of the country's exports to the USA. The Monetary Authority of Singapore noted in a macroeconomic assessment report on Monday that the economic growth outlook has turned 'more cautious', as U.S. tariff hikes may compress exporters' profit margins, reduce production, and suppress domestic income. The institution emphasized that there is still 'significant uncertainty' regarding trade policy direction. 'If trade conflicts persist for a long time, they may pose further downside risks to economic growth, thereby affecting inflation,' the report stated. 'Conversely, trade tensions may ease over time, which could boost confidence and export activity.'