Archives: Terms

Definition of Trades Union Congress The Trades Union Congress (TUC) is a national federation of trade unions in England and Wales, representing the majority of trade unions in these regions. Established in 1868, the TUC’s primary objective is to support and advocate for workers’ rights and improve working conditions. It […]

Definition of Trademark A trademark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others. Trademarks are a form of intellectual property and typically take the form of logos, slogans, words, or symbols. The primary purpose of a trademark is […]

Definition of Trade-Weighted Index A trade-weighted index, also known as an effective exchange rate, measures the value of a country’s currency relative to the currencies of its most important trading partners. The weights are typically based on trade volumes with each partner. This index provides a more comprehensive view of […]

Definition of Trade-Related Investment Measures (TRIMs) Trade-Related Investment Measures (TRIMs) are rules that apply to the treatment of foreign investment in a country. These measures are established to promote fair and equitable treatment of foreign investors and to ensure that trade and investment policies are transparent and non-discriminatory. TRIMs are […]

Definition of Trade-Related Intellectual Property Rights (TRIPS) Trade-Related Intellectual Property Rights (TRIPS) are a legal framework established under the World Trade Organization (WTO) that sets down minimum standards for various forms of intellectual property (IP) regulation as applied to nationals of other WTO member nations. The TRIPS Agreement was negotiated […]

Definition of Trade-Off A trade-off is an economic concept that involves a situation where to gain some advantage, one must incur a cost or give up another advantage. Essentially, it describes the balance achieved between two desirable but incompatible features; a compromise. Trade-offs arise because resources (time, money, resources, etc.) […]

Definition of Trade Union A trade union, also known as a labor union, is an organized association of workers formed to protect and promote their rights and interests. The primary aims of trade unions are to ensure fair wages, work conditions, labor rights, and other job-related benefits for their members. […]

Definition of Trade Talks Trade talks are formal negotiations between countries aimed at creating new or revising existing trade agreements. These discussions are essential components of international economic relations and involve deliberations on tariffs, trade barriers, import quotas, subsidies, and other regulatory measures. The goal is to enhance trade cooperation, […]

Definition of Trade Sanctions Trade sanctions refer to economic penalties imposed by one or more countries against a targeted country, group, or individual. These sanctions are typically implemented to compel behavioral changes, such as ending human rights abuses, halting aggression, or discouraging nuclear proliferation. Trade sanctions can take various forms, […]

Definition of Trade Policy Trade policy refers to the laws, regulations, strategies, and practices that a country uses to regulate and control international trade. These policies determine how a country conducts trade with other nations and are designed to protect domestic industries, manage trade relations, and achieve economic objectives. Trade […]