Trade Policy Reforms

Trade policy reforms involve changing a country's rules and agreements related to buying and selling goods and services across borders. These reforms aim to reduce barriers like tariffs (taxes on imports), quotas, and regulations that can make trading more difficult or expensive. By relaxing or updating these policies, countries hope to promote economic growth, increase access to a variety of products, encourage competition, and improve relationships with trading partners. Essentially, trade policy reforms are efforts to create a more open and efficient trading environment that benefits consumers, businesses, and the economy as a whole.