trade war
Economic tit-for-tat
A trade war is an economic conflict between countries that impose tariffs, quotas, or other restrictions on each other's goods.
One nation raises barriers; the other retaliates; escalation follows.
Trade wars aim to protect domestic industries or pressure trading partners but often raise prices for consumers and disrupt global supply chains.
The trade war between the U.S. and China rattled markets for years.
Required tasks or charges
- levyCompulsory government charge
- customsTraditional practices or import taxes
- import dutiesTaxes on incoming goods
- export dutiesTaxes on goods leaving
countervailing · anti-dumping duties · border tax · retaliatory tariffs · Smoot-Hawley · most-favored-nation
Punitive international restrictions
- embargoOfficial prohibition on trade
- decouplingRemoval of interdependence
- supply chain disruptionInterrupted flow of goods
- reshoringRelocating production domestically
nearshoring · technology ban · Huawei · bilateral talks · Phase One · currency manipulation · intellectual property theft · national security
Limits on foreign purchases
- economic nationalismFavoring domestic over foreign commerce
- mercantilismTrade policy favoring exports
- autarkyComplete economic independence
- beggar-thy-neighborPolicy benefiting self, harming others
industrial policy · state subsidies · dumping · national champions
Defensive actions against threats
- tit-for-tatEquivalent retaliation strategy
- reciprocityMutual exchange of actions
- escalationProgressive increase in intensity
- reprisalPunitive action in return
backlash · blacklist · export controls · leverage · brinkmanship · de-escalation
duties
Required tasks or charges
- levyCompulsory government charge
- customsTraditional practices or import taxes
- import dutiesTaxes on incoming goods
export duties · countervailing · anti-dumping duties · border tax · retaliatory tariffs · Smoot-Hawley · most-favored-nation
sanctions
Punitive international restrictions
- embargoOfficial prohibition on trade
- decouplingRemoval of interdependence
- supply chain disruptionInterrupted flow of goods
reshoring · nearshoring · technology ban · Huawei · bilateral talks · Phase One · currency manipulation · intellectual property theft · national security
import quotas
Limits on foreign purchases
- economic nationalismFavoring domestic over foreign commerce
- mercantilismTrade policy favoring exports
- autarkyComplete economic independence
beggar-thy-neighbor · industrial policy · state subsidies · dumping · national champions
countermeasures
Defensive actions against threats
- tit-for-tatEquivalent retaliation strategy
- reciprocityMutual exchange of actions
- escalationProgressive increase in intensity
reprisal · backlash · blacklist · export controls · leverage · brinkmanship · de-escalation
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- Chinese Commerceexport, import, tariff, wholesale, factories
- North American RelationsNAFTA, USMCA, border, ambassador, embassy
- Sino-Japanese Relationsterritorial disputes, diplomatic ties, bilateral talks, historical grievances, diplomatic crisis
- protectionismprotectionism, tariffs, import quotas, import duties, import taxes
- trade lawcommercial law, customs regulations, commercial code, customs law, customs duties
trade warfree trade agreement
Treaty eliminating tariffs between nations
trade deal · free trade · trade partnership · economic cooperation · trade alliance
war, trade, warrior, trader, trading, warfare, traded, warring, warlike