Fears that the world would resort to protectionism in the midst of the global financial crisis have largely proved unfounded. While anti-dumping measures remain a popular and handy trade remedy tool, initiation of new investigations has been constrained. Many countries, however, have raised tariffs and non-tariff barriers, and more safeguards have been adopted to protect local industries. Of particular importance is the US’s imposition of safeguard duties on mainland tyres under Section 421, which has opened the floodgate to safeguards against other products on the one hand, and led to the mainland's retaliatory actions on the other. Yet a full-scale trade war is not likely, given the need for cooperation for global recovery and the well-functioning of multilateral frameworks. In any event, the tide of protectionism is not expected to subside anytime soon, as unemployment and overcapacity will persist after the recession.