Liberal Trade Policy

Liberal Trade Policy

The policy in which a country reduces its tariffs and other trade barriers, often in conjunction with other countries. Liberal trade policies are intended to encourage international trade, which fuels economic growth. However, some economists and others believe liberal trade policies can be harmful because they are detrimental to domestic industries unable to compete with their foreign counterparts.
References in periodicals archive ?
If the 1970s presented one missed opportunity to achieve a truly liberal trade policy, the 1990s presented a second.
At the same time, he defended his liberal trade policy during the Musharraf government, but said 'now is the time to protect the industry in order to ensure its revival'.
Speaking of recent trade disputes and protectionist measures implemented in certain countries, which have brought about much uncertainty to the global market, including Asia, the president said Taiwan will continue to uphold a liberal trade policy and promote regional economic integration through taking part in bilateral or multilateral trade agreements.
Sartaj Aziz said, in 1960 Pakistan was the only country in the region to introduce liberal trade policy for enhancing trade and investment with the world.
This truly resilient view of the overall development of EU's economy often contradicted the liberal trade policy, especially after Maastrich inducing mixed results throughout the Union.
The United States has a relatively liberal trade policy, operates through the rule of law, and governs through transparent processes.
Denmark's active liberal trade policy in the European Union (EU), Organization for Economic Cooperation and Development, and World Trade Organization largely coincides with U.S.
have backed the Gulf airlines, saying that government action would signal an abandonment of the United States' liberal trade policy in favor of protectionism.
Membership in the WTO seems to have few privileges in the form of higher trade, but it comes with few responsibilities in terms of more liberal trade policy.
(4) However, although the authors recommend liberal trade policy, they do not test the impact of trade policy (via globalisation) on growth.
Recently, we have seen an attitude shift towards a more liberal trade policy with Cuba.