Trade Policies & Agreements
Free Trade: No restrictions on imports/exports (e.g., WTO rules).
Protectionism: Governments impose tariffs, quotas, or subsidies to protect local industries.
Regional Trade Agreements (RTAs):
Free Trade Agreements (FTAs) – e.g., NAFTA, ASEAN.
Customs Union – Common external trade policies (e.g., European Union).
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"A deep dive into the dynamics of international trade, exploring how countries exchange goods and services, the economic theories behind trade, and the impact of policies, globalization, and market forces on global commerce."
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Similar ideas to Trade Policies & Agreements
Comparative Advantage: Rules, Regulations and Restrictions
Governments around the world impose rules, regulations and restrictions like:
- Tariffs
- Selective trade agreements.
- Lobbying and rent-seeking to protect a country's interests.
- Tax breaks and special deals
- Sanctions
These practices e...
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