President Trump's policies 'extremely worrying' for shipping: Singapore lawyer
US President Donald Trump’s controversial policies are “extremely worrying” for shipping and global trade according to top Singapore maritime lawyer Dato’ Jude Benny, but US shipping executives caution on over-reaction.
Speaking at Mare Forum Singapore on Wednesday Dato’ Benny, a partner with Joseph Tan Jude Benny, said he always maintained: “The greatest threat to peace and stability is dysfunctional American politics - boy have I been proved right.”
Trump’s first weeks in office have seen a slew of controversial policies including the Executive Order on immigration temporarily banning citizens from seven countries entering the US, and the plan to build a wall between the US and Mexico. The President has also offered sharp public criticism of states ranging from Iran to China to Australia.
Dato’ Benny noted that Trump’s chief strategist thrives on disruption. “From a shipping perspective this is worrying because it affects confidence,” he said.
“The kind of sabre rattling we are seeing is completely unnecessary, it’s all disruptive.” This is the opposite of what the global economy thrives on – which is stability.
“We’re in a state of flux and in my view that is extremely worrying,” he stated.
Dato’ Benny believes that foreign powers will not accept the policies President Trump is thinking about and there will be a “huge push back” from the likes of China and countries in the Middle East.
However he also believes Trumps policies will be pushed through by his supporters, with both the House of Representatives and the Senate controlled by the Republicans.
Others though believed the impact of Trump would not be as great as the publicity his statements and policies have attracted. Singapore-based American executive Kenny Rogers from Aurora Tankers Management commented that it was very early on in the administration. “A lot of the rhetoric is just rhetoric,” he said.
“I think it's a little bit over stated the effect he will have on the world economy.”
Rogers said American consumers would accept some restrictions on China as they live off Chinese goods.
Retired United States Coast Guard Rear Admiral Robert North, currently president of North Star Maritime expressed similar views. “We really have to see what time tells us in the process. I don’t think it will be quite as extreme as some people predict.”
About the Author
You May Also Like