free trade

/'fri:'treid/

Thân thiện

Countries benefit from free trade by exchanging goods across borders.

Definition

1. Noun:
   • International trade free of government interference: An economic policy and system where goods and services can be bought and sold across international borders without restrictions, tariffs, quotas, or subsidies imposed by governments. The goal is to allow market forces to determine trade flows.

Usage Examples

• Noun:
  • The two countries signed an agreement to promote free trade between them.
  • Advocates argue that free trade leads to lower prices and greater economic efficiency.
  • The debate over free trade versus protectionism is a central issue in economics.

Advanced Usage

• "to believe in free trade": To support the principles of free trade as an economic philosophy.
  • The economist firmly believes in free trade and open markets.
• "free trade area/zone": A region where a group of countries has agreed to eliminate tariffs, quotas, and preferences on most goods and services traded between them.
  • The North American Free Trade Agreement (NAFTA) created a large free trade area.

Variants and Related Words

• Free-trader (noun): A person who advocates for free trade policies.
  • He was a staunch free-trader who opposed all tariffs.
• Free-trading (adjective): Characterized by or practicing free trade.
  • The nation adopted a more free-trading policy.

Synonyms

• Open trade: Trade with minimal barriers.
• Liberalized trade: Trade that has been made free from restrictions.

Antonyms

• Protectionism: The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
• Managed trade: International trade regulated by government agreements.

Related Phrases

• Free trade agreement (FTA): A treaty between two or more countries to establish a free trade area.
  • The new free trade agreement reduced barriers for agricultural products.
• Barriers to free trade: Government-imposed restraints on the flow of international goods or services, such as tariffs.
  • The summit focused on removing barriers to free trade.

Học thuật

Noun

1. international trade free of government interference