What is a trade war?

This video goes of the causes and repercussions of a trade war. In general a trade way will begin with one country introducing tariffs trying to defend some of their domestic industries. The recipient of the tariff will then retaliate to try to mitigate the effects of the first tariff. This can result in a collapse of free trade and a loss in total surplus from both countries. More information on this topic can be found at:
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