Economics Trade Agreements Questions Medium
A trade agreement is a legally binding agreement between two or more countries that establishes the terms and conditions for the exchange of goods, services, and investments. It aims to promote and regulate international trade by reducing or eliminating barriers such as tariffs, quotas, and other trade restrictions. Trade agreements typically cover a wide range of areas, including market access, intellectual property rights, government procurement, competition policy, and dispute settlement mechanisms. These agreements are negotiated and signed by governments to facilitate trade, enhance economic cooperation, and create a more predictable and stable trading environment for businesses and consumers.