What does trade agreement mean?

Definitions for trade agreement
trade agree·ment

This dictionary definitions page includes all the possible meanings, example usage and translations of the word trade agreement.

Wikipedia

  1. Trade agreement

    A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories. The logic of formal trade agreements is that they outline what is agreed upon and the punishments for deviation from the rules set in the agreement. Trade agreements therefore make misunderstandings less likely, and create confidence on both sides that cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as the IMF, can further incentivize cooperation by monitoring compliance with agreements and reporting third countries of the violations. Monitoring by international agencies may be needed to detect non-tariff barriers, which are disguised attempts at creating trade barriers.Trade pacts are frequently politically contentious since they may change economic customs and deepen interdependence with trade partners. Increasing efficiency through "free trade" is a common goal. For the most part, governments are supportive of further trade agreements. There have been however some concerns expressed by the WTO. According to Pascal Lamy, Director-General of the WTO, the proliferation of regional trade agreements (RTAs) "...is breeding concern — concern about incoherence, confusion, exponential increase of costs for business, unpredictability and even unfairness in trade relations." The position of the WTO is that while the typical trade agreements (called preferential or regional by the WTO) are useful to a degree, it is much more beneficial to focus on global agreements in the WTO framework such as the negotiations of the current Doha round. The anti-globalization movement opposes such agreements almost by definition, but some groups normally allied within that movement, e.g. green parties, seek fair trade or safe trade provisions that moderate real and perceived ill effects of globalization.

Wikidata

  1. Trade agreement

    A trade agreement is a wide ranging tax, tariff and trade treaty that often includes investment guarantees. The most common trade agreements are of the preferential and free trade types are concluded in order to reduce tariffs, quotas and other trade restrictions on items traded between the signatories.

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Numerology

  1. Chaldean Numerology

    The numerical value of trade agreement in Chaldean Numerology is: 5

  2. Pythagorean Numerology

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

Examples of trade agreement in a Sentence

  1. Matt Blunt:

    House passage of the USMCA is a huge step toward finalizing this long-awaited 21st century trade agreement.

  2. James Ragan:

    You've got expectations that the Phase 1 trade agreement is signed in early to mid-January.

  3. That Clinton:

    We worked hard to improve and ratify trade agreements with Colombia and Panama and encouraged Canada and the group of countries that became known as the Pacific Alliance -- Mexico, Colombia, Peru, and Chile -- all open-market democracies driving toward a more prosperous future to join negotiations with Asian nations on TPP, the trans-Pacific trade agreement.

  4. Donald Duncan:

    In 1997 we were the fastest growing manufacturing metro area in the country and four years later it collapsed, what you can see on the ground today is 3,000 job openings. China's emergence as the world's low-cost producer and export superpower following its World Trade Organization entry in 2001 dealt a heavy blow to traditional industrial communities such as Hickory. Economists David Autor, David Dorn and Gordon Hanson have tried to separate the impact of trade from other factors affecting U.S. manufacturing employment and they estimate that between 1990 and 2007 Hickory lost 16 percent of its manufacturing jobs just due to surging imports from China. DEEP SCARS. Buffeted by other headwinds, such as the 1994 North American Free Trade agreement and the lifting of textile quotas in 2004, the area lost 40,000 manufacturing jobs overall, half the total, between 2000 and 2009. Nationally, more than 5 million manufacturing jobs have disappeared since 2000, a period that also included the worst economic downturn since the Great Depression. The collapse left deep and still visible scars that help explain the appeal of Trump's pledge to bring back manufacturing's glory days. In Hickory, disability rolls soared more than 50 percent between 2000 and 2014, swollen by older workers who struggled to return to the workforce. At the same time, the share of the 25-34 year old in the population fell by almost a fifth between 2000 and 2010. Consequently, even as the unemployment rate tumbled from a peak above 15 percent in 2010 to 4.6 percent today, below the national average, so did the labor force participation rate. It fell from above 68 percent in 2000 to below 59 percent in 2014. Poverty levels doubled. Yet the manufacturing upswing in areas that suffered the most during the downturn is evident. Rust belt states, such as Michigan, Indiana and Ohio that may prove pivotal in the Nov. 8 presidential election, have been adding manufacturing jobs faster than the economy as a whole. Michigan, for example, which lost nearly half of its manufacturing jobs between 2000 and 2009, has since then seen a 25 percent rise, well above the 4 percent gain nationally. Manufacturing employment there is still well below the levels in the 1990s. Economists debate whether returning to that level is realistic given technological advances that have reduced manufacturing's share of the workforce from a high of above 30 percent in the 1950s to around 8 percent today. But they also feel that have already seen the bottom, particularly when it comes to China's impact.

  5. Matthew Griffin:

    The U.S. backed with a free trade agreement to give those small businesses a competitive advantage, and it’s working. We are seeing the end of the FARC rebellion in Colombia after 50-something years and it’s mainly because of business and trade.

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"trade agreement." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/trade+agreement>.

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