International Trade Agreements

International trade agreements are treaties between countries that establish rules for trading goods and services. They aim to reduce tariffs (taxes on imports), eliminate trade barriers, and promote fair competition. By doing so, these agreements help countries access new markets, strengthen economic ties, and encourage investment. Examples include NAFTA (now USMCA) and the EU's single market. Such agreements can lead to lower prices for consumers, increased choices, and improved economic growth, but they can also create challenges for certain industries and workers who might struggle to compete with imports.