Report Urges Caution on Import Curbs, Citing Risks of Shortages, Illicit Trade

• Concerns over potential negative impacts of import restrictions, including retaliation from trade partners, shortages driving inflation, and illicit trade • Emphasizes importance of trade diplomacy with partners like China and WTO to mitigate conflicts • Warns local industry lacks capacity currently to ramp up production sufficiently to replace imports • Suggests balanced, gradual approach coupled with infrastructure development and industry subsidies • Advises considering impact on trade relations, domestic production, and wider economy alongside protection of local firms