trade wars
Trade wars refer to escalating economic conflicts between countries, where they impose tariffs or other trade barriers on each other's goods and services. This typically occurs as a retaliatory measure in response to protectionist policies implemented by one country, eventually leading to a series of aggressive trade actions. Trade wars aim to gain leverage in international trade negotiations or protect domestic industries but often result in negative consequences, such as higher prices, reduced economic growth, and strained diplomatic relations.
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