Global trade, or international commerce, is the exchange of goods and services across national borders, forming the bedrock of interconnected economies. It...
Global trade drives economic growth by enabling countries to specialize, fostering efficiency, competition, and innovation. It expands market access for goods and services, creating new opportunities for businesses and employment worldwide.
Tariffs are taxes imposed on imported goods. They can protect domestic industries but often increase consumer costs, reduce trade volumes, and may provoke retaliatory tariffs from other countries, disrupting international commerce.
The WTO is an intergovernmental organization regulating and facilitating international trade. Its primary function is to ensure trade flows as smoothly, predictably, and freely as possible by establishing and enforcing trade agreements.
Global trade relies on complex, international supply chains. Disruptions in one region due to geopolitical events, natural disasters, or pandemics can significantly impact the availability, cost, and timely delivery of goods across the globe.