From Longman Business Dictionary
free tradeˌfree ˈtrade [uncountableU]ECONOMICS a system in which goods can be bought and sold between countries without any restrictions such as TARIFFs (=taxes) or QUOTAs (=limits on imports)free trade withQuebec Liberals strongly support free trade with the US.
an agreement on bilateral free trade (=free trade between two countries) between Brazil and Venezuela.
We aim at bringing the Pacific region rapidly into a US-sponsored Free Trade Area, en route to multilateral free trade (=free trade between many countries).
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