Overview
Trade policies are essential tools that governments use to regulate international trade, impacting economies worldwide. They include tariffs, quotas, and trade agreements, each serving different purposes in protecting domestic industries and promoting economic growth. Understanding these policies he...
Key Terms
Example: The government raised tariffs on steel imports.
Example: The country set a quota on sugar imports.
Example: NAFTA is a well-known free trade agreement.
Example: The European Union is an example of economic integration.
Example: Protectionism can lead to trade wars.
Example: The trade deficit increased due to high imports.
Related Topics
Globalization
The process of increased interconnectedness among countries, affecting trade and culture.
intermediateInternational Trade Theories
Theories explaining how and why countries engage in trade.
advancedTrade Wars
Conflicts between countries over trade policies, often involving tariffs.
intermediateKey Concepts
TariffsQuotasFree Trade AgreementsEconomic Unions