What is a Trade War?

Defense Contractors

Earlier this year President Donald Trump imposed tariffs on solar panels and washing machines, followed by tariffs on steel and aluminum. While these measures were poorly received by many economists and could actually cause net harm to the U.S. economy, some Democrats, notably those in Rust Belt states, voiced support for the tariffs on steel and aluminum imports.

A larger fear has been that prolonged tariffs could even result in a trade war, which tends not to have a real winner. Generally the biggest losers are consumers who spent more for products. Worse still trade wars can even lead nations to an actual war. Take this test and see if you understand the complex history of trade wars.

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Peter Suciu is a freelance writer who covers business technology and cyber security. He currently lives in Michigan and can be reached at petersuciu@gmail.com.