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free trade

policy in which countries' governments do not restrict imports from, or exports to, other countries

AI overview

Free trade is an economic policy where countries allow goods and services to move across their borders without government restrictions like tariffs or quotas. It matters because it can affect prices consumers pay, which businesses can access markets, and how countries' economies develop.

AI-generated from the Wikipedia summary — may contain errors.

Wikidata facts

Subclass of: commercial policy

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topic's main category: Category:Free trade
facet of: liberal international order

Sources (6)

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Encyclopedic overview

Trade as a share of global GDP (openness index).

Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist political parties generally support protectionism, the opposite of free trade.

Excerpted from Wikipedia’s “free trade” article, available under the CC BY-SA 4.0 licence.