Meera Manoj, Gujarat National Law University, India
A new kind of war has captured the world’s imagination of late: a war of global tariffs.
The “trade war”, as it has been loosely termed, began with the United States’ (“US”) imposition of additional tariffs of 25% on steel and 10% on aluminum imports last March. The measure was imposed as per an investigation conducted under Section 232 of the Trade Expansion Act of 1962. The US concluded that the continued import of these goods constituted a threat to its national security by weakening the internal economy, leaving it “almost totally reliant on foreign producers in case of a national emergency.” Continue reading