free trade

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Free Trade

The state in which there are few or no tariffs or other trade barriers discouraging international trade. For example, a country with a free trade policy does not subsidize favored industries in order to make them less expensive compared to international competitors. Proponents of free trade argue that it is more economically efficient and helps consumers by promoting competition to keep prices low. Critics contend that free trade is detrimental to local jobs, especially in the developed world.

free trade

the EXPORT and IMPORT of goods and services between countries totally unhindered by restrictions such as TARIFFS and QUOTAS. In general, free trade leads to a higher level of economic welfare in so far as it favours the location of economic activities in those countries best suited to their production, resulting, through the trade mechanism, in worldwide consumption gains in the form of lower prices and greater product availability. See INTERNATIONAL TRADE, TRADE INTEGRATION, WORLD TRADE ORGANIZATION.

free trade

the INTERNATIONAL TRADE that takes place without barriers, such as TARIFFS, QUOTAS and FOREIGN EXCHANGE CONTROLS, being placed on the free movement of goods and services between countries. The aim of free trade is to secure the benefits of international SPECIALIZATION. Free trade as a policy objective of the international community has been fostered both generally by the WORLD TRADE ORGANIZATION and on a more limited regional basis by the establishment of various FREE TRADE AREAS, CUSTOM UNIONS and COMMON MARKETS.

See GAINS FROM TRADE, EUROPEAN UNION, EUROPEAN FREE TRADE ASSOCIATION, TRADE INTEGRATION.

References in periodicals archive ?
See Metcalfe, supra note 12 (commenting on the expansion of trade in MERCOSUR, the European Union, and APEC); see also Gord McIntosh, Chile FreeTrade Pact Ratifies Several Years of Patient Gains, OTTAWA CITIZEN, Nov.
As an additional benefit to participation in the GoNow Financial Network, TASER shareholders and investors will receive the opportunity to buy TASER shares, commission free, through GoNow's strategic relationship with FreeTrade by Ameritrade.
In conjunction with the GoNow Network, CTUM shareholders will receive the opportunity to trade CTUM shares -- commission free -- through GoNow's strategic relationship with Freetrade by Ameritrade.
As an additional benefit to participation in the GoNow Financial Network, SeaView shareholders will receive the opportunity to trade SeaView shares commission free through GoNow's strategic relationship with FreeTrade by Ameritrade.
As an additional benefit to participation in the GoNow network, Hartcourt shareholders will receive the opportunity to trade Hartcourt shares commission free through GoNow's strategic relationship with FreeTrade by Ameritrade.
As a result of this new relationship with GoNow, ICR Systems' shareholders will have the opportunity to trade commission free in ICR Systems' publicly traded securities through GoNow's strategic relationship with Freetrade by Ameritrade.
As an additional benefit to participation in the GoNow Financial Network, Presidential Air shareholders will receive the opportunity to trade Presidential Air shares commission free through GoNow's strategic relationship with FreeTrade by Ameritrade.
As a result of this new relationship with GoNow, Cal-Bay's shareholders will have the opportunity to trade commission free in Cal-Bay's publicly traded securities through GoNow's strategic relationship with FreeTrade by Ameritrade.
As an additional benefit to participation in the GoNow Network, BestNet shareholders will receive the opportunity to trade BestNet shares commission free through GoNow's strategic relationship with FreeTrade by Ameritrade.
As an additional benefit to participation in GoNow, SureCare shareholders will receive the opportunity to trade commission free in SureCare's publicly traded securities through GoNow's strategic relationship with FreeTrade by Ameritrade.
EGL China announced the opening of its first bonded logistics warehouse and the addition of a logistics license in the Wai Gao Qiao Freetrade Zone near Shanghai.