Overview
Trade wars are conflicts between countries that arise when they impose tariffs or other trade barriers on each other. These actions can lead to significant economic consequences, including increased prices for consumers, disruptions in global supply chains, and retaliatory measures from other nation...
Key Terms
Example: The government raised tariffs on steel imports.
Example: Quotas are a type of trade barrier.
Example: A rising GDP indicates economic growth.
Example: Inflation can erode purchasing power.
Example: China retaliated with tariffs on US goods.
Example: Globalization has led to more trade opportunities.
Related Topics
Global Trade Agreements
Explore how countries negotiate trade agreements to facilitate trade.
intermediateEconomic Sanctions
Learn about the use of economic sanctions as a tool in international relations.
advancedInternational Economics
Study the economic interactions between countries and their effects.
advancedKey Concepts
TariffsTrade BarriersEconomic ImpactGlobalization