free trade
free trade — noun
1. a system in which countries buy and sell goods across borders without government
a system in which countries buy and sell goods across borders without government restrictions such as tariffs, quotas, or bans designed to protect home industries
Before free trade, each shipment of Ghanaian cocoa to Europe carried a 12% import tariff.
before-and-after: shows the tariff barrier that free trade removes
The free trade agreement between Kenya and Tanzania cut tariffs on food.
collocation: free trade agreement
Takeshi's company in Osaka grew after Japan signed a free trade deal.
Linh watched free trade transform Vietnam's coffee industry over ten years.
When Rwanda and Uganda removed all trade barriers, farmers began selling bananas directly across the border.
- open market
broader term that can refer to domestic as well as international trade, and emphasizes access for all participants
- laissez-faire
a wider economic philosophy of minimal government intervention in all markets, not limited to cross-border trade
- protectionism
the policy of using tariffs and quotas to shield domestic industries from foreign competition
用法筆記
Uncountable noun — do not use with an article. Often appears in compound nouns: free trade agreement, free trade zone, free trade area.