free trade agreements
Cross-border commerce pacts
Free trade agreements are treaties between countries that reduce or eliminate tariffs, quotas, and other barriers to commerce.
They aim to increase trade by making goods and services flow more freely across borders: NAFTA was one of the largest free trade agreements in the world.
Critics argue they can disadvantage domestic industries and workers.
- quotasMandated numerical limits
- job displacementLoss of employment position
- economic blocAllied national economies
- environmental concernsWorries about nature's health
- supply chainsNetworks moving goods to market
most favored nation · labor standards · dispute resolution · level playing field · free market · markets · exports · globalization · comparative advantage · race to the bottom · treaties · sanctions · negotiations · ratification · outsourcing · subsidies · imports · commerce
- trade agreementsNAFTA, USMCA, GATT, WTO, bilateral agreements
- trade policytariff, quotas, protectionism, sanctions, tariffs
- diplomacyembassy, ambassador, ambassadors, treaty, treaties
- trade documentationcustoms declaration, shipping documents, self-certification, commercial invoice, bill of lading
free trade agreementsprotectionism
Shielding local producers
trade barriers · tariffs · import quotas · trade restrictions · economic sanctions
free trade agreementseconomic nationalism
Favoring domestic over foreign commerce
mercantilism · autarky · isolationism · self-sufficiency · import substitution