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Definition: A trade embargo is a governmental order to restrict trade of certain goods or all goods entirely with a foreign country. This typically stems from political differences between the two nations or economic circumstances that make commercial trade undesirable. What [â¦]
By Robert McNamara. Definition: The Embargo Act of 1807 was an attempt by President Thomas Jefferson and the U.S. Congress to punish Britain and France for interfering with American trade while the two major European powers were at war with each other.he newer law was no more successful than the Embargo Act had been. And relations with Britain continued to fray until, three years later, President James Madison obtained a declaration of war from Congress and the War of 1812 began.