| 单词 | commercial policy |
| 释义 | commercial policy The policies followed by governments affecting foreign trade. This covers the use of tariff, trade subsidies, quota, voluntary export restraint agreements (VERs), and other non-tariff barriers to trade, restrictions on rights of establishment for foreign businesses, and the regulation of international trade in services such as insurance. It is a matter of recurrent controversy whether commercial policy should be protectionist, or aim at an open economy, and whether it should be entirely at each government's discretion, or should be governed by international rules negotiated through the World Trade Organization (WTO) or regional groups such as the European Union (EU) or the North American Free Trade Agreement (NAFTA). See also: protectionism |
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