The Impact of Trade Wars on Global Economy

Abstract

Nowadays, we are witnessing major trade wars, such as the United States–China trade war, economic sanctions against Russia, and trade disputes between the United States and the European Union, that are significantly impacting the global economy. This phenomenon requires enhanced international cooperation to mitigate their negative effects. The relevance of the topic is determined by the increasing role of geopolitical factors in international trade and the shift from globalization toward economic fragmentation and protectionism. The research aims to identify the main causes, mechanisms, and consequences of trade wars on global economic stability. CZU: 339.986; JEL: F13, F51, F14