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Bank of England Governor Warns of Global Trade Barrier Risks

The UK’s exit from the EU serves as a case study of trade barriers' adverse effects on international economic activity, according to the central bank chief.

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Terms & Concepts
  • Trade Barriers: Government-imposed restrictions on international trade, such as tariffs, quotas, or regulations, which can hinder cross-border economic activity.
  • Brexit: The United Kingdom’s withdrawal from the European Union, impacting trade relations and regulatory frameworks between the UK and EU.
  • Global Economy: The international network of markets, businesses, governments, and trade that collectively impacts economic growth and stability worldwide.