Trade Wars and Tariff Policies: Long-Term effects on Global Trade and Economic Relationship

Trade wars and tariff policies have become serious concerns shaping global trade and economic relations in the 21st century. Characterized by tariffs and other trade barriers, these policies have impacts beyond bilateral financial effects. Focusing on long-term effects and drawing on historical and modern cases such as the U.S.–China trade war, the paper indicates persistent disruption of global supply chains, heightened financial market volatility, and sector-specific impacts (notably agriculture). Regarding international economic relationships, the study highlights the creation of new trade agreements and diversification of trade partnerships. It is imperative for countries to diversify trade relationships and adopt initiatives to mitigate trade-war effects. While national measures may yield short-term political or economic gains, global prosperity is unlikely to be sustained without cooperative and stable international trade policies.

Ejuchegahi A. Angwaomaodolo