"A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade."
The policies that affect trade relations between countries.
Comparative advantage: The ability of a country to produce goods or services at a lower opportunity cost than other countries.
Protectionism: The practice of using trade barriers or tariffs to protect domestic industries from foreign competition.
Trade agreements: Formal arrangements between countries that outline the terms of trade, including tariffs, quotas, and other regulations.
World Trade Organization (WTO): The international organization that regulates trade between countries and promotes free trade.
Tariffs: Taxes levied on imported goods to make them more expensive and less competitive.
Non-tariff barriers: Regulations, standards, or technical requirements that can make it difficult to trade with other countries.
Dumping: Selling goods in foreign markets at prices lower than the cost of production to gain a competitive advantage.
Foreign direct investment: Investment made by a company in a foreign country, which can lead to economic growth and development.
Intellectual Property Rights: Legal protections granted to individuals or groups for their creative work or inventions.
Currency exchange rates: The value of one currency compared to another, which can impact the price of goods and services in international trade.
Balance of trade: The difference between a country's exports and imports, which can impact economic growth and development.
Regional trade blocs: Formal agreements between neighboring countries to promote free trade and economic integration.
Free trade: The unrestricted movement of goods and services between countries, without trade barriers or tariffs.
Globalization: The integration of economies and societies around the world, which can impact international trade policy.
Economic sanctions: Measures taken by countries to restrict trade with another country in response to political or economic disagreements.
Tariffs: A tax or duty imposed by a government on imported or exported goods, which increases the cost of the goods and makes them less competitive.
Quotas: A limit on the quantity of goods that can be imported or exported.
Embargoes: A restriction on trade with one or more countries, which can be placed for political or economic reasons.
Subsidies: Government payments or benefits granted to domestic producers, which reduce their costs and make their products more competitive with imports.
Dumping: The sale of goods in foreign markets at prices below the cost of production, which can undermine domestic producers and distort global markets.
Trade agreements: Formal agreements between two or more countries, which set out the terms and conditions of trade between them.
Trade blocs: Groups of countries that come together to promote trade and economic cooperation, usually by reducing barriers to trade among themselves.
Currency manipulation: Actions taken by governments to artificially lower the value of their currency, in order to make their exports cheaper and more competitive.
Intellectual property rights: Laws and regulations that protect the rights of inventors, authors, and artists, by giving them exclusive rights to use and profit from their creations.
Environmental and labor standards: Regulations that ensure that trade does not harm the environment or violate workers' rights, by setting standards for working conditions, labor rights, and environmental protection.
"Commercial policy is an all-encompassing term that is used to cover topics which involve international trade."
"Trade policy is often described in terms of a scale between the extremes of free trade (no restrictions on trade) on one side and protectionism (high restrictions to protect local producers) on the other."
"A common commercial policy can sometimes be agreed by treaty within a customs union, as with the European Union's common commercial policy and in Mercosur."
"A nation's commercial policy will include and take into account the policies adopted by that nation's government while negotiating international trade."
"There are several factors that can affect a nation's commercial policy, all of which can affect international trade policies."
"A commercial policy (also referred to as a trade policy or international trade policy)..."
"Protectionism (high restrictions to protect local producers)..."
"As with the European Union's common commercial policy and in Mercosur."
"A commercial policy... governs international trade."
"Trade policy is often described in terms of a scale between the extremes of free trade... and protectionism..."
"A nation's commercial policy will include... the policies adopted by that nation's government while negotiating international trade."
"A common commercial policy can sometimes be agreed by treaty within a customs union..."
"Commercial policy is an all-encompassing term that is used to cover topics which involve international trade."
"The European Union's common commercial policy... can sometimes be agreed by treaty within a customs union."
"A nation's commercial policy will... take into account the policies adopted by that nation's government while negotiating international trade."
"Trade policy is often described in terms of a scale between the extremes of free trade... and protectionism..."
"A commercial policy... governs international trade."
"There are several factors that can affect... international trade policies."
"All of which can affect international trade policies."