trade liberalization

  

Definition

The removal of or reduction in the trade practices that thwart free flow of goods and services from one nation to another. It includes dismantling of tariff (such as duties, surcharges, and export subsidies) as well as nontariff barriers (such as licensing regulations, quotas, and arbitrary standards).

Use this term in a sentence

  • You should always try to have a good trade liberalization going on so that it is much easier for you to move product.

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  • The trade liberalization was optimal for the business operating in that region who were able to conduct business more efficiently.

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  • The United States government implemented trade liberalization in order to ensure that the stock market would flourish and that there would be continuous growth to the country economically.

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