Definitions for free trade
free trade

Princeton's WordNetRate this definition:0.0 / 0 votes

1. free tradenoun

   international trade free of government interference

WiktionaryRate this definition:0.0 / 0 votes

1. free tradenoun

   international trade free from government interference, especially trade free from tariffs or duties on imports

WikipediaRate this definition:0.0 / 0 votes

1. Free trade

   Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade. Most nations are today members of the World Trade Organization multilateral trade agreements. Free trade was best exemplified by the unilateral stance of Great Britain who reduced regulations and duties on imports and exports from the mid-nineteenth century to the 1920s. An alternative approach, of creating free trade areas between groups of countries by agreement, such as that of the European Economic Area and the Mercosur open markets, creates a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes and non-tariff barriers, such as regulatory legislation. Historically, openness to free trade substantially increased from 1815 to the outbreak of World War I. Trade openness increased again during the 1920s, but collapsed (in particular in Europe and North America) during the Great Depression. Trade openness increased substantially again from the 1950s onwards (albeit with a slowdown during the 1973 oil crisis). Economists and economic historians contend that current levels of trade openness are the highest they have ever been.Economists are generally supportive of free trade. There is a broad consensus among economists that protectionism has a negative effect on economic growth and economic welfare while free trade and the reduction of trade barriers has a positive effect on economic growth and economic stability. However, in the short run, liberalization of trade can cause significant and unequally distributed losses and the economic dislocation of workers in import-competing sectors.

ChatGPTRate this definition:0.0 / 0 votes

1. free trade

   Free trade is an economic policy that allows unrestricted import and export of goods and services between different countries. Under free trade, goods are traded without tariffs or quotas, and traders are allowed to do business across international borders without government intervention. This policy promotes global economic growth, encourages competition, and can lead to price stability. It is based on the principle of comparative advantage, which suggests that each country should concentrate on producing goods that they can make most efficiently, and import goods that other countries can provide more efficiently.

WikidataRate this definition:0.0 / 0 votes

1. Free trade

   Free trade is a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs or subsidies or quotas. According to the law of comparative advantage, the policy permits trading partners mutual gains from trade of goods and services. Under a free trade policy, prices emerge from the equilibration of supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from those that would emerge under deregulation. These governed prices are the result of government intervention in the market through price adjustments or supply restrictions, including protectionist policies. Such government interventions can increase as well as decrease the cost of goods and services to both consumers and producers. Since the mid-20th century, nations have increasingly reduced tariff barriers and currency restrictions on international trade. Other barriers, however, that may be equally effective in hindering trade include import quotas, taxes, and diverse means of subsidizing domestic industries. Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and import quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement and Central America Free Trade Agreement and any governmental market intervention resulting in artificial prices.

The Nuttall EncyclopediaRate this definition:0.0 / 0 votes

1. Free Trade

   the name given to the commercial policy of England, first elaborately set forth with cogent reasoning by Adam Smith in his "Wealth of Nations," and of which the repeal of the Corn Laws in 1846 was the first step towards its adoption. Strictly used, the term is applicable only to international or foreign trade, and signifies a policy of strict non-intervention in the free competition of foreign goods with home goods in the home markets. Differential duties, artificial encouragements (e. g. bounties, drawbacks), to the home producer, all of which are characteristic of a protective system of trading, are withheld, the belief being entertained by free-traders that the industrial interests of a country are best served by permitting the capital to flow into those channels of trade into which the character and resources of the country naturally dispose it to do, and also by bringing the consumer as near as possible to the cheapest producer. But it is not considered a violation of the Free Trade principles to impose a duty for revenue purposes on such imported articles as have no home competitor, e. g. tea.

Matched Categories

1. • Trade

How to pronounce free trade?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say free trade in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of free trade in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of free trade in Pythagorean Numerology is: 1

Examples of free trade in a Sentence

1. Bernie Sanders:

   I have a message for Secretary Clinton: We shouldn't re-negotiate the Pacific trade proposal, we should kill this unfettered free trade agreement which would cost us nearly half a million jobs.

2. Robert Lighthizer:

   This is not a free trade agreement, my scope is narrow here, it is based on 301.

3. Jia Qingguo:

   Certainly, the United States looks weak in terms of playing a leadership role in promoting a higher level of free trade.

4. Boris Johnson:

   It's totally untried and would make it very, very difficult to do free trade deals, if you have the new customs partnership, you have a crazy system whereby you end up collecting the tariffs on behalf of the EU at the UK frontier.

5. Morris Fiorina:

   Were I advising her I'd suggest she try to thread the needle - explain that free trade has great benefits for the country as a whole, but past and pending agreements do not adequately recognize and compensate the losers. She will remedy that failure.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=free trade
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Free_Trade
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Free_Trade
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=free trade
6. ^ The Nuttall Encyclopedia
   https://www.gutenberg.org/cache/epub/12342/pg12342-images.html#FreeTrade