trade war

trade war definition - business

trade war

An escalating competition between two or more countries that take actions, including imposing duties and quotas, to restrict imports from the other participants. For example, in 2002 the United States escalated a dispute over Canadian softwood lumber by imposing a 27% duty on imports of this product from its northern neighbor. See also tariff war.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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