IMF and WTO: Countries should work through G20 and WTO to limit trade restrictions

In a joint statement published on Friday, the International Monetary Fund (IMF) and the World Trade Organization (WTO) noted that they were concerned about the decline in finances needed to facilitate trade in medical supplies and food.

"Export restrictions on food and medical supplies are dangerously counterproductive in coronavirus pandemic," the statement further read. "Restrictions on immigration and food exports could limit the planting of crops. Countries should work through G20 and the WTO to coordinate trade policy and limit trade restrictions."

Market reaction

These comments were largely ignored by the market participants and the S&P 500 futures were last up 0.92% on the day.