The Hindu Editorial (No one wins) – Jul 09, 2018

The trade wars have finally begun. After exchanging several threats over the last few months, both the United States and China implemented a tariff of 25% on imports… For further reading, visit “The Hindu”. Below is today’s word list-2 for The Hindu Editorial (No one wins) – Jul 09, 2018.

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Today’s word list-2 for The Hindu Editorial (No one wins) – Jul 09, 2018:

trade war (noun) – a condition in which a country increase tariffs on foreign goods and impose quota restrictions to restrict other countries’ trade.
saner comparative adjective of sane (adjective) – sensible/practical, advisable, responsible.
prevail (verb) – be in existence, be present, be in effect.
far from (phrase) – not, not at all, nowhere near.
vow (verb) – promise, affirm, avow/guarantee.
resonate (verb) – resound, reverberate; evoke some feelings/emotions.
trade deficit (noun) – a trade deficit (a deficit in the balance of trade) occurs when the value of a country’s imports exceeds that of its exports. It is also called a trade gap.
accommodate (verb) – assist, help, favour.
slap (verb) – impose, levy, add.
retaliatory tariff (noun) – another name for punitive tariff; An extra tariff/tax that a country charges on import goods from another country to punish the another country for charging tax on its own export goods.
rely on (phrasal verb) – depend on; resort to, have recourse to.
fortunes (noun) – circumstances, state of affairs, conditions; success/failure of a company over period of time.
tit-for-tat (phrase) – retaliation, counterattack; revenge/retribution.
Federal Reserve (US) (noun) – the central banking system of the United States (The Reserve Bank of India (RBI) is India’s central banking institution).
scale back (phrasal verb) – reduce, lessen, decrease.
slowdown (noun) – economic decline, depression, recession.
amicably (adverb) – in a friendly manner.
trans-Pacific (adjective) – on, from the other side of, spanning or crossing the Pacific Ocean.
pull out (phrasal verb) – withdraw, leave, get out.
Trans-pacific Partnership (TTP) (noun) – Twelve countries that border the Pacific Ocean and also representing approximately 40% of the world’s GDP signed up to the Trans-pacific Partnership (TPP) in February 2016, in order to eventually create a new single market, like the EU. The TPP countries are Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam, Japan, Malaysia, Canada and Mexico and the 12th nation, the U.S withdraw from the discussions of TTP before it became law.
simmer (verb) – be furious, be angry, be incensed, fume.

Note:

Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.
Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context.
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