Global trade policies significantly impact national economies by influencing imports, exports, and the overall balance of trade. Tariffs, quotas, and trade agreements can affect local industries, potentially leading to job creation or loss, depending on competitive advantages. Moreover, trade policies can modify consumer prices and availability of goods. Nations that engage in free trade often experience economic growth and improved innovation, but they may face challenges in protecting domestic industries. Balancing trade benefits with national interests, especially concerning labor rights and environmental standards, remains a vital consideration for policymakers.