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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
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Ex-Singapore Oil Tycoon Lim to Pay $3.5 Billion to Liquidators in Landmark Case

Former Singapore oil mogul Lim Oon Kuin and his children are set to pay $3.5 billion to the liquidators of Hin Leong Trading Pte. to settle a civil lawsuit aimed at recovering funds for the company's creditors. This settlement, known as a consent judgment, will also include interest and costs, marking a significant moment in the downfall of Lim's once-thriving oil trading empire, which was the largest independent oil trader in Singapore.

The legal action follows the collapse of Hin Leong in 2020, which left creditors, including major banks, with substantial losses. Among the affected, HSBC Holdings Plc has the largest exposure at $600 million, and the Lims are expected to proceed with similar settlements for other claimants.

This settlement marks an inglorious end to Lim's career, having built Hin Leong from scratch in 1973 into a major player in the oil trading sector, with interests spanning bunkering and storage businesses.

While this agreement resolves the civil suit, Lim's legal challenges are far from over. He is due to be sentenced later this week in a separate criminal trial for charges of cheating and forgery.

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