Modern Economics & Management Forum

Economic globalization, with aspects like trade liberalization, production internationalization and financial globalization, challenges traditional trade policies. Traditional protection policies' limitations in tariff and non-tariff barriers are prominent. Trade policy goals need to shift from protecting domestic industries and trade balance to enhancing competitiveness and optimizing resource allocation. Countries are adjusting trade policies. Trade liberalization deepens (e.g., tariff cuts, customs simplification), they engage in regional cooperation (sign agreements and adjust domestic policies), and use strategic policies for emerging industries and trade frictions. These adjustments impact domestic economies (industry, employment, income) and international trade (volumes, directions, industrial chains). Studying these adjustments helps understand the trade pattern evolution, enables countries to formulate policies, and emphasizes future policy adjustment in emerging fields and global cooperation for sustainable development.