the tradeoff for the average worker when it comes to international trade policies in specialization and comparative advantage because there is the possibility that workers could be laid off from their job.
Barriers to international trade are policies implemented by governments to prevent international trade and protect domestic markets. These include subsidies, tariffs, quotas, import and export licenses and standardization.
All agreements establishing free trade areas have the same goal of liberalizing trade, promoting economic growth, and giving member countries equal access to markets.
The WTO oversees four international trade agreements: the GATT, the General Agreement on Trade in Services (GATS), and the Agreement on Trade-Related Intellectual Property Rights and Trade-Related Investments (TRIPS or TRIMS).
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