Definition of Trade war:
Trade wars can commence if one country perceives a competitor nation has unfair trading practices. Domestic trade unions or industry lobbyists can place pressure on politicians to make imported goods less attractive to consumers, pushing international policy toward a trade war. Also, trade wars are often a result of a misunderstanding of the widespread benefits of free trade.
A trade war happens when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports.
Conflict between two or more nations regarding trade tariffs on each other. This type of conflict usually arises because the nations involved are trying to improve imports or exports for its own country. Trade wars have the potential of increasing the costs of certain imports if the nations involved refuse to make a compromise.
A situation in which countries try to damage each others trade, typically by the imposition of tariffs or quota restrictions.
How to use Trade war in a sentence?
- A trade war happens when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports.
- Advocates say trade wars protect national interests and provide advantages to domestic businesses.
- Trade wars are a side effect of protectionist policies and are controversial.
- Critics of trade wars claim they ultimately hurt local companies, consumers, and the economy.
- There already are indications that the commercial dispute between Japan and China will be contained, preventing a wider trade war which could damage economies across Asia.
Meaning of Trade war & Trade war Definition