An embargo refers to an official ban or restriction on trade or commercial activity imposed by a government or group of governments on a specific country, individual, or group. It is often used as a political or economic measure to exert pressure, maintain national security, or influence diplomatic relations. In the context of the clue "Trading off," an embargo can be seen as a limitation or restriction on trade.
Note: The provided meaning of the answer is for the latest New York Times crossword puzzle clue: Trading off?. Explanations are generated by AI and may be inaccurate.