DBS CEO Tan Su Shan's one big lesson for getting through Trump's tariffs: ‘Diversify' [Fortune]
SINGAPORE AIRLNS UNSP/ADR (SINGY)
NASDAQ:AMEX Investor Relations:
singaporeair.com/en_uk/sg/about-us/information-for-investors
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Source: Fortune
President Donald Trump slapped steep tariffs on much of the world economy. That posed a challenge for DBS, which serves clients across China, Southeast Asia, and India. Her response to an uncertain economy? Diversify. “If you only sell to the U.S., you have to diversify,” Tan said at the Fortune Most Powerful Women Summit on Tuesday. Last week, Trump threatened to impose 100% tariffs on Chinese goods by Nov. 1 in retaliation for Beijing's expanded export controls on rare earth minerals. The U.S. president has also slapped 50% tariffs on Brazil and India, two other major non-Western economies. On Tuesday, Tan suggested that Trump's broad-based tariffs could be forging new links between these different economies. “China and India, historically, are not that close,” Tan said. “This might actually create more opportunities for Chinese and Indian companies to do more together, certainly on the supply chain.” Earlier this year, China and India agreed to resume direct flights, which
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