Also found in: Dictionary, Wikipedia.
One or more trade barriers that a country places upon another country as a punitive action. A country may institute a trade sanction because it disagrees with its trade policies; for example, if country A subsidizes domestic corn so that it reduces demand for country B's imports, country B may restrict the import of country A's wheat as punishment. Alternatively, a trade sanction may occur when two countries disagree on a more fundamental level. A trade sanction should not be confused with an economic sanction.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
economic sanctionsbilateral or multinational prohibitions (embargoes) on the EXPORT and IMPORT of goods, services and capital to and from a particular country Economic sanctions are applied as an adjunct to political pressure being brought to bear on a country by the international community for that country to change its political/economic policies.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005