Uncommon
Free trade
Absence of government restriction on international trade
Free trade
Free trade is a trade policy that does not restrict imports or exports through legal barriers. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist political parties (usually on the left of the political spectrum) generally support protectionism, the opposite of free trade. Most nations today are members of the World Trade Organization multilateral trade agreements. States can unilaterally reduce regulations and duties on imports and exports, as well as form bilateral and multilateral free trade agreements. Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies that are intended to support local industry growth and employment, such as applying tariffs...
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