Controlling trade refers to the regulations and policies implemented by a governing body in order to manage and restrict commerce between different regions or countries.
Related terms
Navigation Acts: These were a series of laws passed by England in the 17th century that aimed at regulating colonial trade with other nations, ensuring that most goods imported into its colonies came from England.
Mercantilism: This economic theory promoted by European powers during the 17th century emphasized accumulating wealth through favorable trade balances, often achieved through controlled colonial economies.
Smuggling: Smuggling refers to the illegal transportation or trade of goods across borders without following official regulations or paying required taxes. In relation to controlling trade, smuggling would involve bypassing the established rules and restrictions imposed by governments.