What are the key trade policies affecting global markets?

What are the key trade policies affecting global markets?

Key trade policies include tariffs, trade agreements, and import/export regulations that influence international trade.

How do tariffs impact consumer prices?

Tariffs increase the cost of imported goods, which can lead to higher prices for consumers as businesses pass on the costs.

Can you explain the difference between free trade and protectionism?

Free trade promotes minimal restrictions on imports and exports, while protectionism aims to shield domestic industries from foreign competition.

What are some examples of recent trade agreements?

Recent trade agreements include the USMCA (United States-Mexico-Canada Agreement) and the RCEP (Regional Comprehensive Economic Partnership).

How do trade policies affect developing countries?

Trade policies can either support or hinder developing countries by affecting their access to markets and ability to compete globally.