Trade wars refer to an economic conflict that arises when one country imposes tariffs or other trade barriers on another country in response to perceived unfair trade practices. This can lead to retaliatory measures, where the affected country also imposes tariffs or restrictions on imports from the first country. Trade wars can escalate as nations continue to retaliate against each other’s trade policies, often resulting in increased costs for consumers and businesses, disruption of global supply chains, and potential negative impacts on economic growth. These conflicts are typically driven by issues such as trade imbalances, intellectual property rights, and national security concerns. Trade wars are significant in the context of international relations and economics, as they can influence diplomatic relationships and global economic stability.
French President Emmanuel Macron announced Europe's strategy to counter U.S. trade policies, highlighting plans for "reciprocal tariffs" on steel and aluminum. This move responds directly to President Trump’s proposed 25%…