Follow RT for the latest news on the economy, including trade wars – economic conflicts arising from excessive protectionism, which occur when one state creates or increases tariffs on the other’s imports, in response to trade barriers created by the first country. The tariff is a tax imposed on imported goods or services - find news and updates on tariffs on RT. The latest trade war gripping the world is that between China and the US. China claims that the US started “the biggest trade war in the economic history.” Both countries imposed tariffs on each other. Find the news and the latest updates on the recent US-China trade war.