To promote the international trade the government can take
several steps:
- Follow WTO norms: WTOnorms are framed to promote international
trade and service. If a nation follows norms like TRIPS, TRIMS,
GATT and other the international trade will be promoted.
- Free trade agreements: A nation can have free trade agreements
with other nation to promote free trade agreement between the two
nations.
- Multinational trade agreements like TPP, RCEP, ASEAN, and EU
are all there to promote trade between the member countries.
Restrict the international trade:
- To restrict the international trade the nation can raise the
tariffs on the goods they are importing or they can put up a quota
for the imported goods. Apart from that, they can raise the
countervailing duties and excise on the goods entering the national
boundary. All these measures by the government will reduce the
international trade.