cartel UK /kɑːˈtɛl/US /kɑɹˈtɛl/ noun5 •A group of businesses or nations that collude to limit competition within an industry or market. •(historical) A combination of political groups (notably parties) for common action. •(historical) An official agreement concerning the exchange of prisoners.He then sent down a flag of truce in military style, proposing a cartel or exchange of prisoners – the corporal for the notary. — 1832 •(historical) A written letter of defiance or challenge.He is cowed at the very idea of a cartel. — 1819 •(historical) A ship used to negotiate with an enemy in time of war, and to exchange prisoners. formscartels