Source: PROGRESSIVE FARMER, 3/15/18


"Trade war" is, in some ways, a useful metaphor to describe a tit-for-tat exchange of punitive trade barriers. Just like on the battleground, one country fires a round of destructive tariffs and back come destructive tariffs in retaliation. Just like in a shooting war, it's easy to slide into escalation as each side tries to inflict the maximum possible pain, thinking it will force the enemy to back down. A trade war can feel a lot like a war.

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