Trade Wars and Their Impact on the Global Economy ...Egypt

Trade wars have become a growing concern in today’s interconnected global economy following President Donald Trump taking office in the United States and his threats to impose tariffs on various countries. When countries impose tariffs, sanctions, or other trade barriers on one another, the consequences ripple across borders, impacting businesses, consumers, and entire economies. While these economic conflicts are often triggered to protect domestic industries, they can just as easily disrupt supply chains, raise prices, and slow down economic growth. What Is a Trade War? A trade war typically unfolds when two or more countries engage in tit-for-tat measures, imposing tariffs and restrictions in response to economic or political disputes. These restrictions can take many forms, including tariffs – taxes imposed on imported goods to make foreign products more expensive – or quotas that limit the amount of a specific product a country is allowed to import. In some cases, governments offer subsidies to domestic industries to give them a competitive advantage, or they implement outright bans on products from specific nations. While the intention may be to strengthen local industries, trade wars often result in unintended consequences, creating turbulence…

Trade Wars and Their Impact on the Global Economy first appeared on Egyptian Streets.

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