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Trade Policy
A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade. 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 Common commercial policy (EU), European Union's common commercial policy and in Common Commercial Policy (MERCOSUR), 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. Theories on international trade p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states, factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization. These organizations work towards the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Power
Economic power refers to the ability of countries, businesses or individuals to make decisions on their own that benefit them. Scholars of international relations also refer to the economic power of a country as a factor influencing its power in international relations. Definition Economists use several concepts featuring the word power: * Market power In economics, market power refers to the ability of a theory of the firm, firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In othe ... is the ability of a firm to profitably raise the market price of a good or service over marginal cost. ** Monopoly power is a strong form of market power—the ability to set prices or wages unilaterally. This is the opposite of the situation in a Perfect competition, perfectly competitive market in which supply and demand set prices. * Purchasing power, i.e. the ability of any am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Presidency Of Donald Trump
Donald Trump's first tenure as the president of the United States began on January 20, 2017, when Trump First inauguration of Donald Trump, was inaugurated as the List of presidents of the United States, 45th president, and ended on January20, 2021. Trump, a Republican Party (United States), Republican from New York (state), New York, took office following his United States Electoral College, electoral college victory over Democratic Party (United States), Democratic nominee Hillary Clinton in the 2016 United States presidential election, 2016 presidential election. Upon his inauguration, he became the first president in American history List of presidents of the United States by previous experience, without prior public office or military background. Trump made an unprecedented number of False or misleading statements by Donald Trump, false or misleading statements during his Donald Trump 2016 presidential campaign, 2016 campaign and first presidency. Alongside Trump's pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff or import tax is a duty (tax), duty imposed by a national Government, government, customs territory, or supranational union on imports of goods and is paid by the importer. Exceptionally, an export tax may be levied on exports of goods or raw materials and is paid by the exporter. Besides being a source of revenue, import duties can also be a form of regulation of International trade, foreign trade and policy that burden foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Tariffs on imports are designed to raise the price of imported goods to discourage consumption. The intention is for citizens to buy local products instead, which, according to support ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preferential Trading Area
A preferential trade area (also preferential trade agreement, PTA) is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely. It is the first stage of economic integration. These tariff preferences have created numerous departures from the normal trade relations principle, namely that World Trade Organization (WTO) members should apply the same tariff to imports from other WTO members. With the recent multiplication of bilateral PTAs and the emergence of Mega-PTAs (wide regional trade agreements such as the Transatlantic Trade and Investment Partnership (TTIP) or Trans Pacific Partnership (TPP)), a global trade system exclusively managed within the framework of the WTO now seems unrealistic and the interactions between trade systems have to be taken into account. The increased complexity of the international trade system generated by the multiplication of PTAs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union–South Korea Free Trade Agreement
The European Union–South Korea Free Trade Agreement is a free trade agreement between the European Union (EU) and South Korea. The agreement was signed on 15 October 2009. The agreement was provisionally applied from 1 July 2011, and entered into force from 13 December 2015, after having been ratified by all signatories. The agreement was the most comprehensive the EU had ever negotiated up until that point: import duties are near eliminated on all produce and there is deep liberalisation in trade in services. It includes provisions for intellectual property (including geographical indications), public procurement, competition, transparency of regulation and sustainable development. There are also specific commitments against non-tariff obstacles on sectors such as automobiles, pharmaceuticals and electronics. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North American Free Trade Agreement
The North American Free Trade Agreement (, TLCAN; , ALÉNA), referred to colloquially in the Anglosphere as NAFTA, ( ) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada. The NAFTA trade bloc formed one of the largest trade blocs in the world by gross domestic product. The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his Ronald Reagan presidential campaign, 1980, 1980 presidential campaign. After the signing of the Canada–United States Free Trade Agreement in 1988, the administrations of U.S. president George H. W. Bush, Mexican president Carlos Salinas de Gortari, and Canadian prime minister Brian Mulroney agreed to negotiate what became NAFTA. Each submitted the agreement for ratificatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Of Southeast Asian Nations
The Association of Southeast Asian Nations, commonly abbreviated as ASEAN, is a regional grouping of 10 Sovereign state, states in Southeast Asia "that aims to promote economic and security cooperation among its ten members." Together, its member states represent a population of more than 600 million people and land area of over . The bloc generated a purchasing power parity (PPP) gross domestic product (GDP) of around trillion in 2022, constituting approximately 6.5% of global List of countries by GDP (PPP), GDP (PPP). ASEAN member states include some of the fastest growing economies in the world, and the institution plays an integral role in East Asian regionalism. The primary objectives of ASEAN, as stated by the association, are "to accelerate economic growth, social progress and cultural development in the region", and "to promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the region and a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asia-Pacific Trade Agreement
The Asia-Pacific Trade Agreement (APTA), previously known as the Bangkok Agreement and renamed 2 November 2005, was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. The APTA market covers 2.7 billion people and accounted for US$15 trillion in terms of gross domestic product in Fiscal Year 2015–2016APTA’s key objectiveis to hasten economic development among the seven participating states opting trade and investment liberalization measures that will contribute to intra-regional trade and economic strengthening through the coverage of merchandise goods and services, synchronized investment regime and free flow of technology transfer making all the Participating States to be in equally winsome situation. Its aim is to promote economic development and cooperation through the adoption of trade liberalization measures. APTA is open to all members of the United Nations Economic and Social Commission for Asia and the Pacific ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreement
A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories. The logic of formal trade agreements is that they outline what is agreed upon and specify the punishments for deviation from the rules set in the agreement. Trade agreements therefore make misunderstandings less likely, and create confidence on both sides that cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as the IMF, can further incentivize cooperation by monitoring compliance with agreements and reporting third countries of the violations. Monitoring by international ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade
Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold Economic liberalism, economically liberal positions, while economic nationalist political parties generally support protectionism, the opposite of free trade. Most nations are today members of the World Trade Organization multilateral trade agreements. States can unilaterally reduce regulations and duties on imports and exports, as well as form bilateral and multilateral free trade agreements. Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or Subsidy, subsidies to exports. Governments may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
