International trade relationships refer to the economic interactions and exchanges of goods, services, and resources between countries. These relationships involve the buying and selling of products across national borders.
Related terms
Comparative Advantage: The ability of a country to produce a good or service at a lower opportunity cost than other countries.
Tariffs: Taxes or duties imposed on imported goods by a government to protect domestic industries or generate revenue.
Trade Agreements: Formal agreements between two or more countries that aim to reduce barriers to trade and promote economic cooperation.
"International Trade Relationships" also found in: