free-trade
UK: ˌfriːˈtreɪd | US: ˌfriːˈtreɪd
n. international trade left to its natural course without tariffs, quotas, or other restrictions.
adj. relating to or advocating such trade policies.
The term "free-trade" emerged in the early 17th century, combining "free" (Old English frēo, meaning "unrestricted") and "trade" (Middle Low German trade, meaning "path" or "course," later evolving to mean commercial exchange). The concept reflects the idea of commerce unimpeded by government barriers, rooted in Enlightenment-era economic theories. The hyphenated form emphasizes the unified concept of unrestricted exchange.
The agreement promotes free-trade between the two nations.
Economists debate the long-term effects of free-trade policies.
Many industries benefit from free-trade zones.
Critics argue that free-trade can harm local businesses.
The country adopted free-trade principles in the 19th century.