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What is international trade policy?

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Shivansh G.
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Sep 06, 2019
What is international trade policy?

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Sep 06, 2019
The term International trade policy describes the ideas, plans, laws, and agreements concerning the trade in goods between different countries, as has been agreed by their national governments or by supranational bodies such as the WTO or the European Union. Just like countries have policies about their health systems, their education systems, foreign policy, and defense policy, they also have policies around international trade. Similar to other policies, international trade policies can sometimes be used as a political instrument to put pressure on other stakeholders. In the case of international trade policy, the successful implementation of the policy is always dependent on the policy of other countries, because trade by definition involves other countries. In this sense, international trade policy differs from policy areas that are more predominantly internal, such as health and education.
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