free trade

Related Terms
The interchange of goods and services (but not of capital or labor) unhindered by high tariffs, nontariff barriers (such as quotas), and onerous or unilateral requirements or processes.

Under a WTO treaty signed by 124 nations in 1995, tariffs are being systematically cut by an average of 40 percent during a fixed timeframe.

Use 'free trade' in a Sentence

The United States, Canada, and Mexico, in an effort to increase the flow of goods and services, enacted free trade legislation called NAFTA that included the cutting of high tariffs.
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During the latter part of the 20th century, the United States has been moving toward a policy of free trade with neighboring countries like Mexico, Canada, and a majority the Caribbean nation.
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Now that the free trade agreement had passed, the small country was receiving regular shipments of much-needed goods from many friendly neighbors.
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