Question

Should the government care about how much trade the United States undertakes with other countries? When should the government seek to promote trade? When should the government seek to limit trade?

Think about the benefits that trade and interconnectedness can bring you as a consumer. Also consider the drawbacks, if any, to this increasing globalization.

Answer 1

Answer:

• The government policy is the factor that affects the trade in between the countries generally.
• These policies act in banning or limiting the trade between the countries in general.
• The trade agreements is being followed in majority of the countries including the subsidiaries and tariffs imposed.
• The trade policy which lies open door opportunities to all the participating countries.
• The primary focus is towards increased market access towards the exports and also increasing the economic efficiency.