The recent escalation of tariff wars might sound novel, but for those who understand the concept, it feels like we are regressing to a more primitive and divisive era. As you may have encountered in some news, two powerful economies imposing duties on each other’s goods, economic leaders predicting ballooning costs, furthermore dismal catastrophe of trade and economic recessions being circulated everywhere in the media. However, what are tariff wars in the first place, and why do they seems to possess such destructive power?


