What is Trade War?
It’s a feud between two or more nations regarding trade tariffs on each other. The feud usually arises when the nations involved are trying to improve imports or exports for their own country. Trade wars have the potential of increasing the costs of certain imports if the nations involved refuse to make an agreement.
What are the effects of the Trade War?
Previous Trade Wars:
Smoot–Hawley Tariff Act(1930), a United States Act implementing protectionist trade policies
Anglo-Irish Trade War(1932–1938)
Trade war over genetically modified food(2010–2011)
China–United States trade war (2018–present)