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Commercial policy is vital as it shapes a country's trade environment, influencing economic growth and stability. It establishes rules and regulations for international trade, impacting tariffs, import/export quotas, and trade agreements, thus fostering fair competition. Additionally, a well-crafted commercial policy can protect domestic industries, promote exports, and ensure consumer welfare by regulating product safety and standards. Ultimately, it plays a crucial role in a nation's economic strategy and its integration into the global market.

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4mo ago

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