New Delhi, Aug. 7 -- 'The curious incident of the dog in the night-time' is an expression that has acquired a life beyond the tale of Silver Blaze, in which Sherlock Holmes solves the mystery of a missing race-horse, to highlight the significance of events that fail to occur even as we focus on events that do.

It is also apt for the global response to US President Donald Trump's tariff tantrums.

Unlike in the aftermath of America's Smoot-Hawley tariffs of 1930, Trump's high and uneven tariffs against country after country have not been followed by a round of protectionist measures by other trading nations.

Also read: Trump tariffs: Is the world watching globalization fall apart?

The beggar-thy-neighbour policy of competitive barriers ...