trade agreement
Nations' exchange terms
A trade agreement is a pact between countries governing commerce—setting tariffs, quotas, and rules for goods and services crossing borders.
Such agreements range from bilateral deals between two nations to multilateral frameworks like NAFTA or the EU's single market: The trade agreement eliminated tariffs on agricultural products.
Countries negotiate trade agreements to boost exports, protect industries, or strengthen political alliances.
- WTOGlobal commerce regulator
- treatyBinding pact between nations
- pactFormal agreement between parties
- most favored nationBest available trade terms
- level playing fieldEqual competitive conditions
dispute resolution · negotiation · customs union · multilateralism · gats · export · deal · tariff · signing · clause · duty · concession · market · bloc · ratification · barrier · handshake · quota
- treatiestreaty, treaties, peace treaty, peace treaties, bilateral treaty
- global tradeexport tax, exports, import tax, imports, export
- tradecustoms, commerce, export, exports, quotas
- agreementshandshake, contract, nod, accords, verbal consent
- barterswap, barter, exchange, haggling, bargain
- global cooperationUnited Nations, multilateralism, coalitions, peace treaty, peace treaties
trade agreementtrade war
Retaliatory economic hostilities
economic sanctions · trade embargo · embargo · economic blockade · trade sanctions
trade agreementhandshake deal
Unwritten mutual commitment
gentleman's agreement · verbal agreement · tacit understanding
trade agreementautarky
Complete economic independence
isolationism · economic nationalism · import substitution · mercantilism
trade, agreement, agreeable, trader, trading, trades, traders, agreeably, trade-off