Trade Policy
Trade Policy * Introduction * Definition * Types * Arguments for Free trade * Arguments against Free trade * Arguments for Protectionism * Arguments against Protectionism * Free Trade versus Protectionism * Conclusion * Bibliography | |
Introduction
Trade policy is a collection of rules and regulations which pertain to trade. Every nation has some form of trade policy in place, with public officials formulating the policy which they think would be most appropriate for their country. The purpose of trade policy is to help a nation 's international trade run more smoothly, by setting clear standards and goals which can be understood by potential trading partners. In many regions, groups of nations work together to create mutually beneficial trade policies.
Things like import and export taxes, tariffs, inspection regulations, and quotas can all be part of a nation 's trade policy. Some nations attempt to protect their local industries with trade policies which place a heavy burden on importers, allowing domestic producers of goods and services to get ahead in the market with lower prices or more availability. Others eschew trade barriers, promoting free trade, in which domestic producers are given no special treatment, and international producers are free to bring in their products.
Safety is sometimes an issue in trade policy. Different nations have different regulations about product safety, and when goods are imported into a country with stiff standards, representatives of that nation may demand the right to inspect the goods, to confirm that they conform with the product safety standards which have been laid out. Security is also an issue, with nations wanting to protect themselves from potential threats while maintaining good foreign relations with frequent trading partners.
Definition
“Trade Policy is a government policy that directly influences the quantity of goods and services that a country imports or exports. Most
Introduction
Trade policy is a collection of rules and regulations which pertain to trade. Every nation has some form of trade policy in place, with public officials formulating the policy which they think would be most appropriate for their country. The purpose of trade policy is to help a nation 's international trade run more smoothly, by setting clear standards and goals which can be understood by potential trading partners. In many regions, groups of nations work together to create mutually beneficial trade policies.
Things like import and export taxes, tariffs, inspection regulations, and quotas can all be part of a nation 's trade policy. Some nations attempt to protect their local industries with trade policies which place a heavy burden on importers, allowing domestic producers of goods and services to get ahead in the market with lower prices or more availability. Others eschew trade barriers, promoting free trade, in which domestic producers are given no special treatment, and international producers are free to bring in their products.
Safety is sometimes an issue in trade policy. Different nations have different regulations about product safety, and when goods are imported into a country with stiff standards, representatives of that nation may demand the right to inspect the goods, to confirm that they conform with the product safety standards which have been laid out. Security is also an issue, with nations wanting to protect themselves from potential threats while maintaining good foreign relations with frequent trading partners.
Definition
“Trade Policy is a government policy that directly influences the quantity of goods and services that a country imports or exports. Most
Bibliography: From Text Books of Managerial Economics – II * Manan Prakashan - Johnson And Mascarenhas * Himalaya Prakashan - V. K. Puri * Principles of economics(Second Edition)D. N. Dwiwedi * New Age International Publisher’s- Indian economy A. N. Agarwal From Internet: * www.wikipedia.org * www.tutor2u.com