International Trade Policy

International trade policy refers to the rules and regulations that countries establish to manage the exchange of goods and services across borders. It encompasses tariffs (taxes on imports), trade agreements, and regulations aimed at promoting exports or protecting domestic industries. These policies can affect how easy or difficult it is to trade with other nations, influencing prices, availability of products, and economic relationships. Effective trade policies aim to boost economic growth, create jobs, and ensure fair competition while balancing national interests with global cooperation. Overall, they play a crucial role in shaping the global economy.