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War on washing machines may have an early casualty in Singapore

Singapore economy

War on washing machines may have an early casualty in Singapore

Bloomberg Published on Wed, Jan 24, 2018 / 2:40 PM GMT+8

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(Jan 24): US President Donald Trump’s attack on washing machine imports may end up putting the dollar through the spin-cycle.

Economic growth in the Asian city state has closely followed year-on-year changes in global trade volumes for almost twenty years, as the nation handles the second highest amount of containers in the world. Any escalation of US protectionism, with Trump seen advocating his “America First” policies at Davos, could have an adverse reaction on investor expectations for Singapore’s growth, monetary policy and the local dollar.