International trade can have profound impacts on local economies, influencing job creation, wage levels, and economic growth. Positive effects include access to a broader market, increased competition, and the infusion of foreign investment, leading to innovation. However, local industries may struggle to compete with imported goods, potentially resulting in job losses and economic dependency. Trade policies can favor certain sectors over others, exacerbating regional disparities. The balance of these effects underscores the need for thoughtful trade agreements that consider both local and global economic dynamics, ultimately shaping the stability of local economies.