Meaning of “cartel” in the English Dictionary

british dictionary

"cartel" in American English

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cartelnoun [ C ]

us /kɑrˈtel/

(Definition of “cartel” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"cartel" in Business English

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cartelnoun [ C ]

uk /kɑːˈtel/ us usually disapproving

ECONOMICS a group of similar companies who agree prices between them in order to increase profits and limit competition:

operate/form a cartel Supermarkets were accused of operating a cartel on the price of many staple foods.
a banking/oil cartel
a price-fixing/illegal/drugs cartel

(Definition of “cartel” from the Cambridge Business English Dictionary © Cambridge University Press)