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tock markets a上海楼凤女神会所re tumbling and economists are edgy as talk of a trade war dominates the news.

China is threatening to hit back against planned US tariffs, saying it is “absolutely not afraid” of the consequences.

This puts the world’s two largest economies at each other’s throats.

But what is a trade war? How does protectionism work? And how will it all affect you?

What is a trade war?
It’s what it sounds like – a trade war is when countries try to attack each other’s trade with taxes and quotas.

One country will raise tariffs, a type of tax, causing the other to respond, in a tit-for-tat escalation.

This can hurt other nations’ economies and lead to rising political tensions between them.

US President Donald Trump reckons trade wars are “good” and easy. He’s not afraid to raise tariffs.

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When a country (USA) is losing many billions of dollars on trade with virtually every cou

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