Trade war: Meaning, advantages, disadvantages and more (www.makemoney.ng)

For instance, there exists a large demand for pineapples in the United Kingdom, nonetheless, pineapples cannot be grown in the UK.

With increased trade comes increased competition amongst nations around the globe, and this has led to the infamous concept of trade wars.

Trade is the most significant source of income to every country in the globe, the impact of trade stems from the concept of barter and the demand for the satisfaction of human unending wants.

This article offers all the insight there is to know on trade wars across the world.

Keypoints

• What are trade wars
• How trade wars work
• Tactics adopted in trade wars
• Advantages of trade wars
• Disadvantages of trade wars
• Conclusion
  • 1. Import duty increase
  • 2. Nationalizing