SINGAPORE (May 7): ”The US decision prolongs market uncertainty, which is already affecting business decisions” — The European Commission, which coordinates trade policy for the EU, in a statement following the April 30 announcement that the US will delay until June 1 import tariffs on steel and aluminium. The EU wants to be fully and permanently exempted from these measures.

Here are five things you need to know this week:

1 Prime Minister Lee Hsien Loong struck a positive tone in his annual May Day speech. “This year, we have sustained the momentum and we expect growth for the whole year to be 1.5% to 3.5%, and if all goes well, we should do better than 2.5%. I hope [that] things hold up, and we get another good year,” Lee said in his speech as part of the International Workers’ Day celebrations at D’Marquee in Downtown East.

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