Is India at risk of renewed tariff pressure? US opens Section 301 trade probe into 16 economies

The United States has launched a trade investigation into the manufacturing and industrial practices of 16 economies, including India and China, in a move widely seen as an effort to restore tariff pressure following a recent Supreme Court ruling. The probe, being conducted under Section 301 of the Trade Act of 1974, will examine “acts, policies and practices” in manufacturing sectors that may be contributing to excessive production capacity disconnected from market demand. Section 301 is among Washington’s most powerful trade enforcement tools, and reports suggest that the outcome of the investigation could lead to the imposition of new import…