By Lily Zhou President Donald Trump on July 8 reiterated a previous warning to nations in BRICS (Brazil, Russia, India, China, and South Africa) that he would be imposing an additional 10 percent tariff on them, saying the bloc was created to replace the U.S. dollar as the dominant currency for international trade. Speaking to […]
Tag: Trade
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. Trade can take place within an economy between producers and consumers. International trade allows countries to expand markets for both goods and services that otherwise may not have been available to it. As a result of international trade, the market contains greater competition and therefore, more competitive prices, which brings a cheaper product home to the consumer.
