Rakesh Garhwal

Trade war and its impact on global economy: Trade war is a situation where two or more countries try to destroy the trade between them by imposing restriction. Trade war is an economic battle between countries where they levy additional taxes on each others products exports in order to protect their on Economy. A trade war happens when one country retaliates against another by raising import tariffs or placing restrictions on the other countries imports.   Trade war does have its own advantages and disadvantages as well. It promotes local job growth and  it will also increase demand for domestic goods and protect nations with un-ethical trade policies, on the other hand It increase costs and it will also slows down economic growth. It hurts diplomatic relations and cultural exchange between nations. Due to trade war various Nations have moved towards protecting their economy to tackle the race of International Trade like in India various programs like make in India, startup