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World Trade Organization (WTO)
An organization of 164 nations (as of mid-2019) that oversees the provisions of the current world trade agreement, resolves trade disputes stemming from it, and holds forums for further rounds of trade negotiations.
Trade Deficits
A situation where the value of a country's imports exceeds the value of its exports.
Offshoring
The practice of shifting work previously done by domestic workers to workers located abroad.
Trading Partner
A country or organization which engages in international trade with another entity, typically exchanging goods, services, or information.
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