International Trade Laws and Regulations

International trade laws and regulations are rules that govern the exchange of goods and services between countries. They aim to facilitate trade by setting standards for tariffs (taxes on imports), quotas (limits on quantities), and trade agreements (pacts between countries to reduce barriers). These laws help ensure fair competition, protect consumers, and promote economic cooperation. They also address issues like intellectual property rights and dispute resolution. Essentially, they create a framework that allows countries to trade effectively while respecting each nation’s rights and regulations.