PNG Turns to Asian Markets After U.S. Imposes 10% Export Tariff
Papua New Guinea is turning its focus toward strengthening trade ties across Asia and the Pacific following the United States’ decision to impose a 10 percent tariff on all PNG exports. Prime Minister James Marape said the country will not retaliate but instead redirect its export efforts to markets where PNG goods are welcomed without artificial barriers.
Speaking after being formally briefed by the Department of Foreign Affairs, Prime Minister Marape said Papua New Guinea respects the sovereign right of the U.S. Government to set its trade policies in line with its national interests. However, he noted that the move would prompt PNG to explore and deepen partnerships in Asia, Southeast Asia, and the broader Pacific region.
“As a sovereign nation, we respect the right of the United States Government to make trade policy decisions in accordance with its national interest,” Marape stated. “We have no issue with this development and do not intend to retaliate with counter tariffs, as others may have done.”
He emphasized that PNG remains committed to free and fair trade, highlighting the shared values between both countries. “The U.S. remains one of the world’s largest free-market democracies, and Papua New Guinea shares this worldview. While we reserve the right to protect our domestic industries when needed, in this instance, we will not respond with hostility or punitive measures,” he added.
Marape acknowledged PNG’s increasingly diversified trade footprint, which includes strong and growing markets such as China, Indonesia, Malaysia, the Philippines, Japan, South Korea, India, Thailand, Vietnam, Australia, New Zealand, and Europe. He said these countries have consistently treated PNG with respect and fairness.
“These are our closest neighbors and represent proximity markets that continue to offer growing opportunities for our producers,” Marape said. “If the U.S. market becomes more difficult due to this tariff, we will simply redirect our goods to markets where there is mutual respect and no artificial barriers.”
The Prime Minister concluded by reaffirming PNG’s openness to trade with all partners, including the United States, but stressed that the country would continue to act in its own best interest without compromising its core values. “We remain open for trade, we remain a friend to all, and we will continue to stand by our principles of cooperation, respect, and economic diplomacy,” he said.
Also read
Post a Comment