Question

Why is a trade war like shooting yourself in the foot?

Answer 1

it can be mentioned that trade war is like shooting yourself in the foot because what happens in a trade war is both the countries involving in trade increase the barriers in the form of tariffs so that the imports and exports will decrease to each of the country as a result of which the exported goods of the companies will lose its revenue and the imported goods are replaced by domestic producers which can be low in quality and also high in price as they don't have a comparative advantage prior as a result of which the prices in increase for certain goods and some industries can be affected with which unemployment can be prevailed as a result of which it is not proved to be beneficial for the country itself and that is why trade war is considered as shooting yourself in the foot