A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade. Commercial policy is an all encompassing term that is used to cover topics which involve international trade. Trade policy is often described in terms of a scale between the extremes of free trade (no restrictions on trade) on one side and protectionism (high restrictions to protect local producers) on the other. A common commercial policy can sometimes be agreed by treaty within a customs union, as with the European Union's common commercial policy and in Mercosur.A nation's commercial policy will include and take into account the policies adopted by that nation's government while negotiating international trade. There are several factors that can affect a nation's commercial policy, all of which can affect international trade policies.
Commercial policy in the context of Common Commercial Policy
A common commercial policy involves several states coordinating some or all aspects of their trade policy.
It is sometimes agreed by treaty within a customs union. In the case of the European Union, a form of the EU's common commercial policy has been in place since 1957.
View the full Wikipedia page for Common Commercial PolicyCommercial policy in the context of Common Foreign and Security Policy
The Common Foreign and Security Policy (CFSP) is the organised, agreed foreign policy of the European Union (EU) for mainly security and defence diplomacy and actions. CFSP deals only with a specific part of the EU's external relations, which domains include mainly Trade and Commercial Policy and other areas such as funding to third countries, etc. Decisions require unanimity among member states in the Council of the European Union, but once agreed, certain aspects can be further decided by qualified majority voting. Foreign policy is chaired and represented by the EU's High Representative, currently Kaja Kallas.
The CFSP sees the North Atlantic Treaty Organisation (NATO) as responsible for the territorial defence of Europe and reconciliation. However, since 1999, the European Union is responsible for implementing missions such as peacekeeping and policing of treaties. A phrase often used to describe the relationship between the EU forces and NATO is "separable, but not separate". The same forces and capabilities form the basis of both EU and NATO efforts, but portions can be allocated to the European Union if necessary.
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