Globalization and Trade Policies

Globalization is the process that connects countries through trade, investment, and the exchange of ideas and cultures. It allows goods, services, and information to flow more freely across borders. Trade policies are government rules that determine how a country engages in this exchange, including tariffs (taxes on imports), trade agreements, and regulations. These policies aim to protect local industries while promoting international trade. In essence, globalization enhances economic interaction among countries, and trade policies shape how this interaction happens, influencing prices, availability of products, and economic growth.