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I did find this:
A major naval confrontation between United Contana and Arcasia at the Gulf of Rika caused a global trade disruption. The gulf where half of the global trade flows through was blocked. Following the event Arcasia imposed considerable tariffs on CSP goods which triggered a temporary trade embargo on all Arcasian goods from the CSP. The massive financial impact was felt all around the world.
Government Budget -3, Economical Development -1
https://www.neoseeker.com/suzerain/guides/Decision_Prompts_Guide_and_List#Superpower_Trade_War
Trigger is (according to website)
This event seems to happen if a Black Tuesday wasn't activated: we don't know for certain if it's set to happen, or there's a chance it doesn't, though.
Though I didn't get this while I avoided a black Tuesday but I do was in debt (-2)
However, with the recent updates the criteria may have changed for the triggers.