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Chinese Ambassador to PNG, Yang Xiaoguang, stated which the trade constraints would not hinder global development but alternatively current new possibilities for international economic engagement.
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Papua New Guinea (PNG) is preparing for likely economic issues stemming from current global trade disruptions induced by America' determination to impose sweeping tariff hikes on China and other key economies.
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PM Marape described the tariff increases to be a "big worldwide occasion" with considerably-achieving implications as opposed to a small adjustment in Intercontinental trade dynamics. He emphasised that the imposition of tariffs exceeding two hundred% by the globe’s greatest economy on its closest rival, coupled with other nations, has sent shockwaves through the world buying and selling method.
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Speaking on bilateral relations, Yang highlighted that trade involving China and PNG surpassed K17.8 billion, with PNG protecting a trade surplus of in excess of K7.5 billion. He attributed this beneficial pattern into the deepening partnership amongst the two nations underneath mutual respect and financial fairness.