Trade scenario has witnessed huge changes since its inception due to which countries trading with each other are exploring new avenues to trade so that the demand and supply of goods and services remain intact which will prevent inflation in the economies. This paper is written with the objective to examine the changing trade relations between major economies of the world due to increased tariffs imposed on the nations (like India and China) by the superpower USA which has led to tariff wars between the nations which has led to geopolitical tensions.