Free Trade

The removal of border restrictions on goods and services such as tariffs and quotas.

The removal of border restrictions on goods and services such as tariffs and quotas.

Notion of Free Trade

The meaning of Free Trade may be as follows: means the buying or selling of goods and services across international borders with few or no restrictions (see also protectionism)

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Legal English Vocabulary: Free Trade in Spanish

Online translation of the English legal term free trade into Spanish: libre comercio (English to Spanish translation) . More about legal dictionary from english to spanish online.

Related to the Legal Thesaurus

Free trade in Global Commerce Policy

In this regard, free trade is: in principle, the free movement across borders of goods, services, capital and people. The entries on trade policy are here. In practice, national policy and regulatory objectives put greater or lesser constraints on the movement of each. The meaning of “free trade” itself has changed over the years. The entries on trade policy in the Encyclopedia are here. Observers have noted that in the case of American policy free trade meant a tariff under 20% in the early 19th century. By the late 19th century freetraders advocated tariff levels below 40%. By the middle of the 20th century free trade meant a tariff of less than 5%. The entries on trade policy are here. In the case of AFTA, free trade is understood to be a tariff ranging from 0% to 5%. The entries on trade policy in the Encyclopedia are here. Under Article XXIV of the GATT, customs unions and free- trade areas have to eliminate duties and other restrictive regulations of commerce on substantially all the trade between the parties to meet the free- trade criterion. The norm there is the abolition of all tariffs between the partners either immediately or over several years. See also Bogor Declaration, economic integration arrangements, four freedoms and free and fair trade.[1]

Free tradein the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

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Notes and References

1. Dictionary of Trade Policy, “Free trade” entry (OAS)

See Also

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See Also

• International Trade
• Trade Regulation
• International Economic Law
• Export License
• International Trade Law
• Foreign Trade
• Safeguard