Regulate Trade

Definition

To regulate trade means that the government sets rules for how business is conducted across borders. These rules can include tariffs on imported goods, quotas on certain products, and standards for safety and quality.

Related terms

Tariff: A tax imposed by a government on goods imported from another country.

Quota: A limit set by a government on the quantity of a product that may be imported during a specific period.

Trade Agreement: An agreement between two or more countries to reduce barriers to trade, such as tariffs and quotas.