import in the source code makes it easy to compile your code, ensuring that the correct headers are found. The Linking Libraries section of the Build Phases section of the Project Settings (now also included on the Summary tab in the Associated Libraries and Frames section) indicates which frameworks and libraries your object code will be associated with.
Historically, we always had to specify these two separately, but now there is a Link Automation project, which, if enabled, will automatically attach the structure to your project if you import in the source code. You must also have Enable Modules enabled.
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