Neutral impactEconomy

A 'Prisoner’s Dilemma' is driving the trade war & the costs could be huge

Economic Times 1 hr ago·15 Sept 2026, 9:45 am

The WTO’s World Trade Report 2026 says global trade is caught in a “Prisoner’s Dilemma”: countries have an incentive to protect their own markets, but when everyone raises tariffs and restricts imports, retaliation can shrink trade, raise prices and leave all sides worse off.

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  • Category: Economy.

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A 'Prisoner’s Dilemma' is driving the trade war & the costs could be huge