Trade agreements (e.g., NAFTA, TPP)

Trade agreements like NAFTA (now USMCA) and TPP are deals between countries that set rules to make buying and selling goods and services easier across borders. They reduce tariffs (taxes on imports), remove trade barriers, and promote cooperation, helping businesses sell in multiple countries more efficiently. These agreements aim to boost economic growth, create jobs, and provide consumers with more choices at lower prices. While they can benefit participating countries, they also spark debates about impacts on local industries, workers, and national sovereignty. Overall, they are tools to encourage international economic collaboration.