A situation in which countries try to damage each other’s trade, typically by the imposition of tariffs or quota restrictions.
- There already are indications that the commercial dispute between Japan and China will be contained, preventing a wider trade war which could damage economies across Asia.
- The biggest threat: an all-out trade war that clobbers corporate confidence and puts a dent in the global economy.
- What is certain is that a trade war would be hugely damaging for both the US and the EU.
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