Tariff war

Tariff war,

Definition of Tariff war:

  1. Counterbalancing tariff rates in a country in retaliation for the tariff rates of another country in an effort to gain trade advantages.

  2. A tariff war is an economic battle between countries where they levy additional tax on each others exports.

  3. In a tariff war Country A raises tax rates on Country B’s exports, and Country B then raises taxes on Country A’s exports in retaliation. The increased tax rate is designed to hurt the other country economically, as tariffs discourage the citizens of the importing country from buying the exporting country's product by raising the total cost of those products.

How to use Tariff war in a sentence?

  1. A tariff war is an economic battle between countries where they levy additional tax on each others exports.
  2. Historically, tariff wars are mutually destructive over the long run though they might offer some short term benefits.
  3. A tariff war is designed to hurt the other country economically, as tariffs discourage the citizens of the importing country from buying the exporting country's product by raising the total cost of those products.

Meaning of Tariff war & Tariff war Definition