trade war

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A situation when countries try to damage each other's trade. The tools of a trade war include tariffs, quota restrictions, or outright bans on imports from the other country; and subsidies or subsidized credit for exports to the other country, or for exports to third countries where the opponent is a rival. During a trade war such methods may be intensified in a series of tit-for-tat reprisals for measures taken by the opponent.

Subjects: Economics — Politics.

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