What Are the Key Challenges of Trade Liberalization for Businesses?
While trade liberalization offers significant benefits, it also presents challenges. Businesses may face increased competition from foreign firms, which can pressure them to reduce costs and innovate continuously. Additionally, companies may need to comply with different regulatory standards and business practices in international markets, which can be complex and costly. There is also the risk of market volatility and economic disruptions due to changes in trade policies or global economic conditions.