New Delhi, March 10 -- US President Donald Trump issued executive orders slapping high tariffs on imports from Canada, Mexico and China. For the rest, he has proposed a reciprocal tariff regime, pushing exporting countries to either reduce their respective import duties drastically or be shut out of the US market. This will be enforced from 2 April.

Never mind that applying selective tariffs violates the Most Favoured Nation (MFN) rules of the World Trade Organization (WTO). If someone raises an objection, WTO's dispute resolution mechanism is expected to deal with it. But that mechanism is broken partly because the US has blocked appointments to its appellate body. If pushed further, it is not inconceivable that the US may decide to wal...