Trade Conflicts
Trade conflicts occur when countries impose tariffs or other barriers on each other's goods and services, leading to disputes over trade practices. These conflicts can arise from issues like unfair competition, intellectual property theft, or trade imbalances. Countries may retaliate by increasing tariffs, which can escalate tensions and disrupt global trade.
Such conflicts can impact economies, affecting businesses and consumers alike. For example, when the United States and China engaged in a trade conflict, both nations faced higher prices for imported goods. Ultimately, trade conflicts can hinder economic growth and create uncertainty in international markets.