Singapore's Senior Minister Lee Hsien-loong remarked that the current global economic framework is effectively 'the world, temporarily minus one,' highlighting the absence of the U.S. from many multilateral trade agreements.

He emphasized that other nations can build partnerships through regional organizations like ASEAN, the Regional Comprehensive Economic Partnership, or broader agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Lee pointed out that the United States has taken a narrow, bilateral, and transactional approach to international trade, contrasting sharply with the broader WTO framework followed by most other countries.

While acknowledging that the U.S. aims to change international trade rules, Lee also noted that it still needs to participate in global trade, leaving its future role in multilateral systems uncertain.

Lee warned that the U.S.'s unique trade approach and its disapproval of the WTO could have significant repercussions, forcing other countries to adapt to the changing global trade environment.