free trade
Definition
Interchange of goods and services (but not of capital or labor) unhindered by high tariffs, non-tariff barriers (such as quotas), and onerous or unilateral requirements or processes. Under a GATT (now WTO) treaty signed by 124 nations in 1995, tariffs will be systematically cut by an average of 40 percent during a fixed timeframe.
Mentioned in these definitions
Mentioned in these terms
Popular 'Banking, Commerce & Finance' Terms
free trade in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/free-trade.html
