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🇩🇪 GERMANY: DEFENDING ISRAEL IS OUR DUTY - BUT GAZA NEEDS A CEASEFIRE.. TOO Chancellor Merz: “Israel has the right to defend its existence and the security of its citizens. Part of the raison d'état of the mullah regime is the annihilation of the state of Israel. Our raison d'état is the defense of Israel's existence. Now is also the moment to conclude a ceasefire for Gaza. We do not lose sight of the bigger picture: We allow ourselves to critically question what goal Israel aims to achieve there and how a more dignified treatment of the people can be attained.” Source: @bundeskanzler

A senior official from Singapore’s Monetary Authority (MAS), Edward Robinson, has warned that a tit-for-tat approach on tariffs would harm both the issuing and receiving economies. Robinson advised that instead of following the path of retaliation, Asian economies must aim to remain agile. According to Robinson, who serves as Deputy Director and Chief Economist at MAS, engaging in retaliatory tariffs would lead to negative supply shifts, worsening the growth-inflation trade-off and complicating monetary policy. He strongly advised that the focus should be on maintaining the existing global system and avoiding actions that could be detrimental to economic stability, colorfully urging against “throwing rocks into their harvest.” Related: China vs. Trump Tariffs: Global Markets Shaken, Crypto Beckons Instead of retaliation, Robinson believes intensifying regional trade integration initiatives would help Singapore and other Asian economies absorb the tariff shocks. The MAS Chief Economist specifically cited digital services trade and cross-border investment as positive moves under the current international trade dispensation. Robinson further stated that protectionism and import taxes disrupt resource allocation and lower the consumer surplus. According to the economist, deploying such an approach would expose domestic households to higher prices and fewer choices. Overall, the economic analyst noted that such an approach would cause both the targeted and the tariff-imposing economies to suffer. This guidance comes as the United States had imposed a 10% baseline tariff rate on Singapore, despite an existing free-trade agreement between the two nations. Beyond Singapore, the US has also threatened to impose much higher tariffs on other Asian economies, even though it has implemented an interim 10% tax for now, with unconfirmed plans to potentially roll out a new, broader tariff regime by July. Related: Asia Moves From Dollar to Digital Gold as Hong Kong Leads Regulation Meanwhile, the Singaporean economy faces the risk of a technical recession after reporting a 0.6% contraction in the first quarter of 2025. According to Singapore’s report, the economic contraction had nothing to do with tariffs from the US, considering the timing under review. It is worth noting that the MAS reviewed its policies in January and April this year, and Robinson does not see any reason to make further reviews. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

⚡️ LEARN: Reciprocal tariffs are essentially a tit-for-tat strategy in global trade. In 2025, under President Trump, US tariffs on Chinese goods reached 145%, with China retaliating with tariffs up to 125%. How does this impact crypto?

U.S. President Donald Trump on Thursday signaled a potential end to the tit-for-tat tariff hikes between the U.S. and China that shocked markets. Trump said China had been in touch since the imposition of tariffs and expressed optimism that they could reach a deal.