Trade War: A trade war occurs when countries impose tariffs, quotas, or embargoes on each other's goods as a way of retaliating against unfair practices or protecting domestic industries.
Sanctions: Sanctions are penalties imposed by one country or group of countries against another nation in response to policy violations, human rights abuses, or other offenses.
Mercantilism: Mercantilism refers to an economic system prevalent during the colonial era where countries sought to accumulate wealth by maximizing exports and minimizing imports through protectionist policies.