Vol. 1, Issue 5, Part E (2015)

Abstract
Deals, rules, and disagreements have all contributed to the profound shaping of global trade policy in the context of international trade. A major contributor to trade liberalisation, tariff reduction, and dispute resolution has been the World Trade Organisation (WTO). The EU\'s single market and notable accords like NAFTA have made cross-border trade and economic integration easier. On the other hand, trade disputes and retaliatory actions have been triggered by protectionist policies, such tariffs and non-tariff barriers, adopted by certain countries to defend domestic sectors, which have affected global trade flows. Bypassing global frameworks periodically, the emergence of regional trade agreements (RTAs) has woven complex webs of trade. The dynamics of international commerce have changed as emerging economies have grown in importance. Trade practices are also impacted by legislation that address labour standards, environmental protection, and intellectual property rights, which have gained prominence and represent larger societal concerns. Global trade policies, thus, have played a crucial role in navigating complex economic interests, striking a balance between trade liberalisation and protectionism, and defining the parameters of global trade.