In an era marked by multipolar power rivalries, pandemic-era protectionism, and institutional fragmentation, global trade is undergoing a strategic shift. This book investigates the resurgence of reciprocal tariff wars in the 21st century and assesses their implications for global macroeconomic stability. It is premised on the argument that we have entered a “new geoeconomic paradigm” in which nations increasingly use tariffs and other economic tools as instruments of power, leading to heightened volatility in trade relations and economic performance.
By uniting perspectives from international economics and political economy, the book examines why these retaliatory trade conflicts have resurfaced, how they are unfolding across different regions, and what consequences they hold for the stability of the global economic order. It begins by grounding the reader in foundational theories of trade retaliation and geoeconomics. It then delves into institutional stress points, regional realignments, and systemic shifts—covering both developed and developing economies, including Asia, the West, Africa, and the Global South. Sectoral case studies on high-tech industries, digital trade conflicts, capital flows, and currency tensions illustrate how tariffs ripple through financial systems, reshape supply chains, and spark inflationary shocks. It concludes by offering forward-looking policy scenarios and institutional innovations, including bilateralism, mini-lateralism, and emerging digital governance frameworks. Further, it focuses on investor sentiment, financial market behavior, and digital sovereignty conflicts, deepening the analysis beyond traditional trade balances.
By framing tariff wars within a broader geoeconomic paradigm, the book contributes a critical and future-oriented lens to one of the most urgent challenges facing global economic stability today. It will appeal to scholars of international trade, macroeconomic governance, and global politics, as well as policymakers navigating a fractured trade order.
In an era marked by multipolar power rivalries, pandemic-era protectionism, and institutional fragmentation, global trade is undergoing a strategic shift. This book investigates the resurgence of reciprocal tariff wars in the 21st century and assesses their implications for global macroeconomic stability.
PART I: Theoretical and Historical Foundations General Introduction
Understanding Tariff Retaliation in a Multipolar World
Chapter 1: The Age of
Economic Retaliation
Chapter 2: Trade War Economics Theoretical Foundations
and Evolution
Chapter 3: Rise of Geo-economics- Power, Strategy and Trade as
a Weapon PART II: Systemic Shocks and Institutional Erosion
Chapter 4: Global
Trade Governance under Stress - WTO, FTAs, and the Decline of Rule-Based
Order
Chapter 5: Asias Strategic Calculus China, India, ASEAN, and the
Indo-Pacific Response
Chapter 6: BRICS and the Global South From Critique
to Counter Coalitions
Chapter 7: Africa and MENA in the Age of Trade
Fragmentation
Chapter 8: Towards Equality or Persistent Gaps? Investigating
Income, Human Development, and Tariff Liberalization in the European Union
and Its Newest Members
Chapter 9: Technology Under Fire - Chips, Intellectual
Property(IP), and Strategic Industries
Chapter 10: Digital Trade Conflicts
Data Sovereignty, Platform Power, and the New Tech Tariffs
Chapter 11:
Digital Trade Conflicts Data Sovereignty, Platform Power, and the New Tech
Tariffs
Chapter 12: Policy Responses and Institutional Innovation From
Bilateralism to Mini-laterals Conclusion
Rajesh Kumar is an Assistant Professor in the School of Business, Galgotias University, India, and a Research Scholar at the National Institute of Technology, Agartala, India
Prasoon M. Tripathi is the Director of the Business School, Institute of Management Studies Ghaziabad, Uttar Pradesh, India.
Debasis Neogi is Professor and Dean of the Department of Management, Humanities and Social Sciences, National Institute of Technology, Agartala, India.
Abhishek Bhushan Singhal is Professor, at Institute of Management Studies Ghaziabad, Uttar Pradesh, India.
