Trade liberalization, also referred to as free trade, is a trading system or policy in which those involved in trading goods can do so without much interference, if any, from the government or appropriate organizations. The main goal of trade liberalization is to allow both trading parties to gain a from trading activity. Other forms of trading may impose certain burdens on imports, such as higher taxes or tariffs, for the purpose of dissuading consumers from purchasing imported goods and supporting domestic industries. 

Trade refers to the actual exchange of merchandise, money, or services. Typically speaking, trades are made where the exchange of goods happens to be somewhat equal in value, such as certain amount of money for a particular valued item. Trade is also referred to as commerce, and originally involved the direct exchange of goods which is known as barter. However, trade in modern times will usually revolve around the exchange of money for particular item.

Trade is done through various methods and outlets, both on a small and large scale. In terms of maritime trade, this refers to the exchange of goods through the transportation of such over international waters. However, maritime trade can also involve domestic or smaller bodies of water as well. Essentially, all trades that will involve the transportation of goods over a body of water can be referred to as maritime trade.

Maritime trade can be said to have been the primary exchange of goods between nations and states in history, arguably starting in ancient times with the Ancient Egyptians and most notably, the Phoenicians. The Phoenicians have been known as some of the most accomplished sea traders in history, being among the first to do so.

The North American Free Trade Agreement, commonly known as NAFTA, is a treaty between the United States, Mexico, and Canada. The NAFTA would be implemented on January 1st, 1994, with the overall purpose of promoting and increasing free trade between the North American countries. Ultimately, free trade could lead to more profitable markets while concurrently increasing the variety and availability of goods and services in all three countries alike. NAFTA would also replace and supersede the previously implemented Canada-United States Free Trade Agreement and would also include Mexico, which was not involved in the previous treated. 

The North American Free Trade Agreement intended, as least in the long run, to eliminate the need for tariffs on all imports between the involved countries. The reasoning is that eliminating tariffs would create for a better and more steady trade between the three countries in order to provide for market diversity and versatility. However, not all tariffs would be immediately dissolved. NAFTA implemented that a ten to fifteen year time frame be necessary to eliminate the tariffs on certain kinds of products or goods. 

Even though the North American Free Trade Agreement had in its implementation an overall and mutual benefit for the three countries, there have been some negative aspects that have resulted. One of the most debated issues is in regard to outsourcing, where the United States and Canada, due to laws and labor regulations, are outsourcing to Mexico because of its relatively lax provisions in such areas. 

A trade barrier refers to any particular type of impedance or restriction that is placed on international trade activity. Typically speaking, trade barriers will usually be in the form of administrative implementations and legislation which will restrict a particular aspect of international trade. 

International trade refers to any particular exchange of goods or services that occurs over international borders. Typically speaking, international trade will usually play a central part in the overall economy of a country, thus, having a direct impact on the global economy as a whole. 

The Trading Standards Institute is an association in the United Kingdom that represents professionals in the trading industry both within the UK as well as in foreign countries. The Trading Standards Institute was formed from the previously formed Institute of Trading Standards Administration that was created in 1956 and the Incorporated Society of Inspectors of Weights and Measures which was established 1881. 

The Trading Standards Institute is an important faction in helping establish trading standard regulations and laws in conjunction with the United Kingdom government as well as the European Union Parliament. The Training Standards Institute has certain goals when it comes to trading. 

In terms of the commodities that are traded on the international market, one of the most common and most important will prove to be cruel oil trading. Cruel oil trading has proven to be crucial in the global economy due to the fact that oil still remains as the most powerful and used energy resource. 

The International Trade Administration, or ITA for short, is an organization within the United States Department of Commerce. The overall purpose of the International Trade Administration is support and promote the exporting of goods and merchandise that is not considered to be agricultural. The ITA will also help promote American businesses and companies to reach international markets and have such access for international trade. Furthermore, it also provides for protection to American companies from unfair competition that may arise. 

The International Trade Administration was created on January 2nd, 1980 and has its headquarters in Washington, D.C. The organization is headed by the Under Secretary of Commerce for International Trade, currently being Francisco “Frank” Sanchez. 

Balance of trade is a term that deals with a nation’s import and export trade activity. Typically speaking, the balance of trade is one that is sought to be maintained by countries in regards to imports and exports, where the relationship will prove to be equal and have overall desirable economic results.

However, a perfect balance of trade will usually not be the case, for trading systems will often prove that a particular country’s economic situation may actually benefit from one aspect being greater than the other.

Trading systems that will have more imports than exports being traded will be considered to be in trade deficit. Conversely, trading systems exporting more than importing is known to be a trade surplus. Both terms can prove to be both positive and negative to country depending on the economic situation of the nation.

An example of how trading systems will work with the balance of trade is in the case of nation seeking to pull out of recession period in its economy. In such a case, the country will prove to benefit from a trade surplus. Having more exports than imports can provide for a method to stimulate the domestic economy by allowing domestic products to be traded more so than those being imported.

The opposite situation would prove to be beneficial in the case that a country is experiencing an inflation period. Therefore, both a trade deficit and a trade surplus can prove to be beneficial for a certain period of time in order to achieve an economical balance.