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Smoot-Hawley Tariff
A U.S. law enacted in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression by stifling international trade.
International Trade War
A situation where countries impose tariffs or other trade barriers against each other in response to disputes, often leading to reduced trade and economic growth.
Dumping
The practice of selling a product in a foreign market at a price below its production cost or domestic price, often aimed at gaining market share or driving out competition.
Export Subsidy
A governmental policy of providing financial support to domestic producers or exporters to encourage exports, lower their prices in global markets, and enhance competitiveness.
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