Everything You Should Know About Trade

What is a Trade

Trade is the term given to the exchange of goods, services, or money between two or more parties. Trade essentially occurs on various levels, from basic purchase of goods at retail store to international exportation and importation of goods. Trade on the international level can be said to have started in ancient times, particularly in the Ancient Egyptian and Phoenician civilizations.

Trade Policy

A trade policy, at times also referred to as commercial policy, is one that is enacted by the government in order to regulate and oversee national and international trading transactions. Trade policies will usually include provisions in regards to any statutes involving taxation or tariffs on goods and import quotas.

Trade Liberalization

Trade Liberalization, also known as free trade, is a policy in trading that is meant to implement a system in which there is no governmental interference in trading transactions. Trade liberalization is usually practiced under certain agreements between countries, such as the North American Free Trade Agreement.

World Trade Organization

The World Trade Organization is a global faction comprised of various countries of the world for purpose of promoting free trade. The WTO was organized in 1995 under the provisions of the Marrakech Agreement. It currently has 153 total members throughout the world and has its headquarters in Geneva, Switzerland.

International Trade Services

An international trade service refers to any particular company that specializes in the actual transport for goods to their intended destination in foreign countries. This can be done through land, air, or sea, though maritime trade is the most commonly employed method.

Balance of Trade

Balance of trade is the term that refers to the relationship between the exports and imports for a particular country. Typically, the desirable balance would be to maintain both exports and imports on an even level. However, depending on the economy of a country, having one more prolific than the other may be in its best interests.

International Trade Administration

The International Trade Administration is an organization within United States Department of Commerce that focuses on the exportation of goods and services of a non-agricultural nature. It was formed in 1980 and has its headquarters Washington, D.C. The head of the ITA currently Francisco "Frank" Sanchez.

Oil Trading

Oil trading is one of the most important commodities that is traded on the international level. Because oil is one of the main fossil fuels that the world still currently depends on for energy, it plays a crucial world in the global economy. One organization involved with oil trading is the Organization of the Petroleum Exporting Countries, which plays a role in how oil is traded on the international market.
Trading Standards

Trading Standards Institute is an organization in the United Kingdom that is involved in providing a platform trading professionals both within the UK and on the international level. It seeks to work with the involved governmental agencies in the formulation of international trading standards in order to meet the mutual goals of both trading professionals and the government.
International Trade

International trade refers to any kind of trading activity that occurs on the international level. International trade is typically one of the main factors in the overall domestic economy for a country, as well as playing a crucial role in the global economy altogether.
Trade Barrier

A trade barrier is any particular restriction that is place on international trade activity. This can be done in many ways, though usually, it will involve increasing costs on certain traded goods. Common trade barriers are taxes, tariffs, import quotas, and licenses.

North American Free Trade Agreement

The North American Free Trade Agreement was implemented in 1994 between the United States, Canada, and Mexico as way to promote and engage in free trade between the three countries. The overall purpose was to allow for more diversity in products and services and eliminate taxation on goods.

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