free trade

noun

Pronunciation: /ˌfriː ˈtreɪd/

Definition

International economic policy that allows goods and services to be bought and sold between countries without government-imposed tariffs, quotas, or other barriers.

Examples

• Economists often argue that free trade leads to lower prices for consumers.

• The government faced significant opposition when it proposed a new free trade agreement with neighboring nations.

• Many developing countries believe that unrestricted free trade can harm their local manufacturing industries.

Synonyms of free trade

Words with a similar meaning to free trade:

• open market
• laissez-faire
• liberalization

Antonyms of free trade

Words with the opposite meaning to free trade:

• protectionism

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