International trade law is the body of laws and agreements that governs how countries do business with each other. The economic health of many countries depends, at least in part, or the ability to import and export goods. International trade laws set out the parameters for how these trades take place. Most of the time, the laws are designed to ensure fairness to all parties, as well as to create something of a globally uniform and predictable set of rules.
There are three primary types of international trade law. The first is national: any country that makes its own internal rules about how trade will be conducted with other countries, or regulates how much of a certain resource can be exported, has created an international trade law. Second is bilateral. When two countries together agree to conduct their trade in a certain way, or to open trade freely between their borders, they create a bilateral trade agreement or trade law. Finally, countries often engage in multilateral agreement-making, which sets common rules and policies to be followed by a number of different global players.