Overview
International trade and regulatory standards play a crucial role in the global economy by ensuring that trade is conducted fairly and safely. These standards help protect consumers and businesses by establishing rules for quality, safety, and compliance. Understanding these concepts is essential for...
Key Terms
Example: The government raised tariffs on steel imports to protect local manufacturers.
Example: NAFTA is a trade agreement between the U.S., Canada, and Mexico.
Example: Companies must ensure regulatory compliance to avoid penalties.
Example: ISO 9001 is a standard for quality management systems.
Example: The country exports coffee to Europe.
Example: The company imports electronics from Asia.