Commercial policy

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A commercial policy (also referred to as a trade policy or international trade policy) is a governmental policy governing economic transactions across international borders. This covers tariffs, trade subsidies, import quotas, voluntary export restraints, restrictions on the establishment of foreign-owned businesses, regulation of trade in services, and other barriers to international trade.[citation needed]

A common commercial policy can sometimes agreed by treaty within a customs union, as with the European Union and is the aim in Mercosur

See also[edit]