Trade Policy

Trade policy refers to the rules and regulations that countries use to manage their trade with other nations. It includes tariffs (taxes on imports), quotas (limits on the amount of goods that can be imported), and agreements to promote free trade. The goal of trade policy is to protect domestic industries, promote exports, and ensure fair competition while fostering economic growth. By shaping how goods and services move across borders, trade policy affects prices, consumer choices, and job opportunities in the domestic economy.