Global Implications of Tariff Wars and its Impact on International Trade

Abstract

There are multiple consequences of trade protectionism in the modern economy. By making use of qualitative evaluation of academic literature and statistical- based data, the research expands on how these policies and their outcomes can create ruptures in supply chains globally, along with rising prices. However, the findings also imply that despite the many negative externalities of these conflicts, they are certain benefits, as they may urge countries to form newer alliances and broaden their trade margins. Overall, the study suggests a more analytical structure to build resilience through the creation of partnerships and a more adaptable global market. Hence, the research acts as a directory for MNCs hoping to survive the highly competitive and unpredictable international market.