Singaporean Prime Minister on Tuesday (Apr 16) announced that Parliament has been dissolved by President Tharman Shanmugaratnam at his advice. This was followed by an announcement by the election commission that national elections would take place on May 3.

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While the election will be the first electoral test for PM Wong, the sudden announcement of the polls has posed a lot of questions. Analysts say that the move comes amid worries about the cost of living and fears of a recession after reciprocal tariffs imposed by US President Donald Trump. They also say that Wong wants to fight the elections, highlighting the global trade turmoil and not the bread-and-butter issues.

Singapore, a small and open economy whose trade is about three times its gross domestic product, adjusted its GDP growth forecast for 2025 downwards on Monday to between 0 and 2 per cent from 1 to 3 per cent, citing the impact of US  tariffs. Singapore, which currently imposes zero tariffs on US imports, is still subject to the baseline 10 per cent rate.