Meaning of the word "trade war" in English

What does "trade war" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

trade war

US /ˈtreɪd wɔːr/
UK /treɪd wɔːr/
"trade war" picture

Noun

a situation in which countries try to harm each other's trade, typically by imposing tariffs or quotas on imports

Example:
The ongoing trade war between the two nations has negatively impacted global markets.
Economists warn of the potential for a full-blown trade war if negotiations fail.