By Andrea Tan

(Bloomberg) – Singapore’s political leaders warned of a tough road ahead after the US unveiled sweeping global tariffs, a move described by an opposition party as scaremongering.

Prime Minister Lawrence Wong sounded the alarm, warning that the likelihood of a full-blown global trade war is growing. The city-state is subject to the minimum 10% universal tariff on all exports to the US, among the lowest in Southeast Asia, where other nations have countered with offers to lower their own levies in exchange for leniency from the Trump administration.