meaning of tariff war

A situation in which countries impose or increase tariffs (taxes on imported goods) on each other's products, often in retaliation for similar measures, leading to a cycle of escalating trade barriers and economic friction.

The two major economic powers were locked in a prolonged tariff war, impacting global supply chains.

Economists warned that a new tariff war could lead to higher prices for consumers and reduced international trade.

Synonyms: trade war, customs war, economic conflict

Etymology: Coined from 'tariff' (from Italian 'tariffa', meaning 'assessment of duties', ultimately from Arabic 'taʿrīf' meaning 'notification, definition, official fees') and 'war' (from Old English 'wyrre', meaning 'hostile conflict'). The term metaphorically describes a conflict waged with economic duties rather than military force.

Cultural Notes: The term 'tariff war' is widely used in economic, political, and journalistic discourse to describe aggressive trade policies between nations. It evokes the confrontational nature of such disputes, highlighting the retaliatory actions and potential for widespread negative economic consequences, often transcending mere trade disagreements to become a significant geopolitical issue.

Common Phrases: engage in a tariff war, escalate a tariff war, resolve a tariff war, threaten a tariff war

Word Frequency: common

Category: geopolitics

Language: English

Pronunciation: /ˈtærɪf wɔːr/