The direct economic impacts on Australia (are) limited. But it does highlight the impacts of global uncertainty in the economy.

We are already seeing some real tensions when it comes to trade. In 2019 the global economy is facing more uncertainty than it was this time last year.

At a time of increasing uncertainty in the global economy - largely things that Australia and indeed the Pacific nations have no direct ability to influence one way or the other - it's very important that you manage your own economic affairs very tightly."