trade war(redirected from Trade Wars)
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trade warthe use by a number of countries of beggar – my – neighbour trade restrictions such as Tariffs and QUOTAS to restrict imports, and subsidies and tax rebates to increase exports. These actions are usually self-defeating, leading to lower trade and income levels for all. See WORLD TRADE ORGANIZATION.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
trade wara situation in which countries engaged in INTERNATIONAL TRADE attempt to reduce competing IMPORTS by the use of TARIFFS, QUOTAS and other import restrictions, and expand their EXPORTS through EXPORT INCENTIVES. Such BEGGAR-MY-NEIGHBOUR POLICIES, bringing with them an escalation of PROTECTIONISM, however, are usually self-defeating, leading to a fall in the total volume of international trade and world income levels.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005