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International trade refers to the exchange of goods and services across international borders. This activity allows countries to obtain products and resources that are not readily available or are more costly to produce domestically. It includes exports, which are goods and services sold to other countries, and imports, which are goods and services purchased from other countries. International trade is influenced by various factors, including trade agreements, tariffs, trade regulations, and economic relations between nations. It plays a crucial role in the global economy by fostering economic growth, enhancing competition, and facilitating access to diverse markets and products. Additionally, international trade contributes to cultural exchange and can lead to the transfer of technology and innovation between countries. Overall, it is a fundamental aspect of the economic interdependence among nations in today’s globalized world.
U.S. stocks fell significantly as President Trump implemented a 20% tariff on China, with potential for more tariffs on Mexico and Canada. The Dow dropped 1.5%, the S&P 500 decreased…