warwar /wɔːwɔːr/ noun [countableC] price/trade/sales warCOMMERCE a situation in which countries or companies compete against each other very stronglyManufacturers of basic commodity products are vulnerable to price wars when demand is slow.
Progress in talks with Japan have averted the risk of a protectionist trade war.
A price war may break out as tire makers try to grab market share and put spare capacity to work.
Gasoline retailers have been waging price wars (=taking part in them).