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Trade war

Two or more states raising or creating tariffs or other trade barriers on each other in retaliation for other trade barriers

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Trade war: Two or more states raising or creating tariffs or other trade barriers on each other in retaliation for other trade barriers
A trade war is an economic conflict resulting from extreme protectionism in which states raise or create tariffs or other trade barriers against each other in response to trade barriers created by the other party. Increased protection causes both nations' output compositions to move towards their autarky position.

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On Politics: Americans Will Face Economic Pain From the Trade War

President Trump’s decision to renew his trade war with China will hurt consumers — a contradiction to his claim that his tariffs are a mostly one-way payment by China.
NYTimes.com - Published

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