Regulation of international trade is one of the key policy issues faced by national governments. Trade policies are highly controversial in nature as they try to create equity for the nation among international players. The global trend across nations has been towards greater economic liberalization and integration of national economies with global trade forces. Many countries follow multi-lateral trade practices and offer the most favoured nation status on non-tariff grounds. Despite the general trend towards openness and integration, domestic as well as international pressures have ensured trade protectionism in the form of tariffs, anti-dumping and other safeguard mechanisms.