tariffs and retaliation

Definition

Economics

• The process of one country raising its tariff to secure some advantage, to which another country responds by raising its tariff, the first raises its tariff still further, etc. See retaliation, trade war. Classic treatment is Johnson (1954).

Nearby Definitions of “tariffs and retaliation”

• tariff items 806 & 807
• tariff preference
• tariff rate quota
• tariff wall
• tariffication
• tariffs and retaliation
• tarpaulin
• tarragon
• tart
• tartare, sauce
• tarte Tatin

Contexts for “tariffs and retaliation”

1 definition in context
• Economics