A Trade War is a situation in which two or more countries raising or creating tariffs or other trade barriers (e.g., limits on numbers of goods) to try to protect their own economies, and to improve imports or exports for its own country. The Trade War may result from the misunderstanding of the widespread benefits of free trade. The Trade War starts when a country attempts to protect a domestic industry and create jobs.
Related Definitions in the Project: The Commercial Definitions
