Transatlantic trade
Definition
Transatlantic trade refers to the complex network of economic exchanges between Europe, Africa, and the Americas that emerged after Columbus' voyages. It involved trading goods such as raw materials (sugar, tobacco) from the Americas for manufactured goods from Europe.
Analogy
Think of transatlantic trade like ordering items online from different countries. You're exchanging money for products that are produced or available in another part of the world.
Related terms
Triangular Trade: A system where goods were exchanged between Europe, Africa, and the Americas using three interconnected trade routes.
Middle Passage: The leg of triangular trade where enslaved Africans were transported across the Atlantic Ocean to work on plantations in America.
Mercantilism: An economic theory prevalent during this time that advocated for a nation's wealth through exporting more than it imported while accumulating precious metals.
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