Introduction Tariffs, or taxes imposed on imported goods and services, are one of the oldest tools of international trade policy. While they may appear as a mere economic instrument, tariffs often carry political, strategic, and geopolitical motives. In the modern globalized economy, tariff wars, especially those initiated by the United States, have far-reaching implications beyond…
Introduction The global economy has become highly interconnected, with trade acting as a lifeline for both developed and developing nations. Free trade agreements, globalization, and liberalized markets have enabled countries to specialize in production, exchange goods, and benefit from comparative advantage. However, in recent years, tariff wars—commonly referred to as trade wars—have emerged as a…
Introduction Trade wars have emerged as a significant aspect of global economic policy in the 21st century. Unlike conventional warfare, trade wars are economic conflicts between nations, primarily manifested through tariffs, quotas, subsidies, and trade restrictions. These conflicts aim to protect domestic industries, influence foreign policy, or gain strategic advantages in global markets. While some…