IMF calls on countries to be cognizant of trade restrictions effects

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WITH the United States and China at loggerheads over Semiconductors, the International Monetary Fund (IMF) has sounded the warning knell that it could have serious repercussions across the globe.

The two countries have been feuding over the chips that are used to power all technology, with Taiwan being one of the main source markets that produce Semiconductors.

It is near half a trillion dollar war that is likely to have an impact across the globe from all technologies to other areas such as the fight against Climate Change

This situation has prompted the IMF to sound alarm bells of the implications for such a move by the United States to restrict China on national security grounds.

“While there can be legitimate reasons for such trade actions, either for national security reasons or to secure supply chains, they also come often with significant economic cost at home and abroad,” IMF Director of Communications, Julie Kozack said in response to a question at a press briefing on the feud between the two developed nations.


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