Changes to Singapore Economic Resilience Taskforce members possible after Cabinet reshuffle: DPM Gan
SINGAPORE – Adjustments may be made to the composition of the Singapore Economic Resilience Taskforce when the new Cabinet line-up is announced, said Deputy Prime Minister Gan Kim Yong.
Prime Minister Lawrence Wong is widely expected to announce changes to his Cabinet soon, following the May 3 general election.
'We may need to make some adjustments to the membership because the membership is taken from ministers with a specific portfolio,' said DPM Gan, who was providing an update to the media on the task force's progress on May 16.
'We will probably announce a new composition if there are any changes after the Cabinet line-up has been announced,' he added.
Post-election reshuffles typically occur within two to three weeks after the polls. The line-up should be firmed up ahead of the annual Shangri-La Dialogue, which is scheduled to take place from May 30 to June 1.
Political observers had told The Straits Times that the upcoming Cabinet reshuffle is likely to be considerable, and could include the promotion of some next-generation leaders to political office.
In May 2024, then DPM Wong had said that he planned to rotate the fourth-generation or 4G ministers to different portfolios and give them wider exposure and experience after the general election.
The current members of the task force, which is chaired by DPM Gan, include:
Minister for National Development Desmond Lee, who is also Minister-in-charge of Social Services Integration;
Minister for Digital Development and Information Josephine Teo, who is also Second Minister for Home Affairs;
Minister for Manpower Tan See Leng, who is also Second Minister for Trade and Industry; and
Minister for Transport and Second Minister for Finance Chee Hong Tat.
The other members are:
Singapore Business Federation chairman Lim Ming Yan;
National Trades Union Congress secretary-general Ng Chee Meng; and
Singapore National Employers Federation president Tan Hee Teck.
The task force was first announced by PM Wong on April 8, after US President Donald Trump on April 2 announced a 10 per cent baseline tariff on all goods, including those from Singapore.
In the latest development, China and the United States have agreed to reduce reciprocal tariffs on each other for 90 days starting from May 14. During this period, the US will reduce tariffs on imports from China to 30 per cent from 145 per cent. Meanwhile, China will reduce tariffs on US goods to 10 per cent from 125 per cent.
'This will allow the two countries to come together, to discuss, to engage, to consult one another and to negotiate for a more amicable settlement in terms of the tariffs,' said DPM Gan.
But he cautioned that while the development is encouraging, the outlook remains very uncertain.
'What will happen at the end of 90 days is still a big question. It is something that we will need to continue to monitor and be ready to respond as the situation evolves.'
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