Trade policies are rules and regulations that countries establish to manage their economic exchanges with other nations. These policies can include tariffs, which are taxes on imported goods, and quotas, which limit the amount of a product that can be imported. The goal of trade policies is often to protect local industries, promote exports, and ensure fair competition. Countries may also enter into trade agreements, such as free trade agreements, to reduce barriers and encourage trade. These agreements can help create a more interconnected global economy, allowing businesses to access new markets and consumers to enjoy a wider variety of products at competitive prices.