Peace thus allowing for the peaceful exchange of

peace; thus, allowing for the peaceful exchange of commerce and trade to take place between
nations. Global trade grants the consumers and countries the opportunity to have exposure to
new products and markets. Moreover, every kind of product is found in the international market.

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These products are such as clothes, foods, spare parts, oil, jewelry, stocks, wine, water, and
currencies. Services such as tourism, banking, transportation, and consulting are also available.
Exports are the products sold to the global market whereas the imports are the products bought
from the global market. The economists include both imports and exports in the balance of
payment in the country’s current account.
The direct impacts of the international trade law on the world trade has resulted in
advanced technology, industrialization, globalization, transportation, Outsourcing, and
Multinational Corporation. The increase in international trade has critically led to continuity in
globalization; and thus, the nations are not limited to the products produced within their borders.
International trade is not different from domestic trade because the behavior and the motivation
of the parties involved do not change regardless of whether the trade is across the border or not.
What is more, international trade is more costly than the domestic trade; this is because the
border imposes additional costs such as tariffs, the costs associated with differences in country’s
legal system, language, and culture, and the costs due to border delays.
The pros and cons of the international trade law are varied. The international trade has
been a key driver. The exporters are more productive than the domestically focused companies.
Since 2008, trade has been growing at the same pace as the global economy. Exports boost
economic growth and create jobs, whereas the imports reduce prices for consumers by allowing
foreign competition. International trade enhances the availability of a wider variety of products
such as out of season and tropical vegetables and fruits. The disadvantages associated with
international trade are; the only way of boosting exports is by making trade easier through the
reduction of tariffs. The trade reduces jobs in the uncompetitive industries. It leads to job
outsourcing. The traditional economies countries would lose their base in local farming because

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countries like EU and the U.S undercut the prices of the local farmers by subsidizing their
agribusiness.
Discussions
As discussed, the international trade law has had a great impact in its member states. The
U.S exports amounted to $ 2.23 trillion in 2015; thus, enabling the U.S to create more than 12
million jobs. The countries that have obtained trade power and have developed their income over
years’ experience the impact of the international trade. The nations that have strong international
trade have gained power in controlling the world economy. Besides, the global trade has led to