Global trade policy refers to the regulations, agreements, and frameworks established by nations and international organizations to govern the exchange of goods, services, and capital across borders. These policies influence tariffs, quotas, and other restrictions or incentives for international commerce. They aim to shape economic relations between countries and ensure fair competition. In the digital age, these policies increasingly address digital services and data flows.
Context
Global trade policy is increasingly grappling with the rise of digital assets and blockchain technology, particularly concerning cross-border transactions and digital commodity classifications. Debates center on how existing trade rules apply to decentralized networks and the need for new international standards. Future developments involve the creation of harmonized regulatory approaches for digital assets that facilitate international trade while mitigating risks like money laundering and illicit finance.
A sudden tariff announcement by President Trump on Chinese goods triggered a rapid, massive crypto market sell-off, wiping out nearly a trillion dollars.
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