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International Trade Law governs the legal regulations and practices involved in the cross-border exchange of goods, services, and capital between countries. It encompasses various aspects such as tariffs, quotas, customs procedures, trade agreements, intellectual property rights, and dispute resolution mechanisms. This body of law aims to facilitate international commerce while ensuring fair competition, protecting consumer welfare, and promoting economic development. It impacts businesses by establishing rules for market access, investment, and trade-related transactions, thereby shaping the global business environment.