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social science subjects > economics > economic concepts > international trade > trade pact
... > contexts > population characteristics > socioeconomic factors > poverty > economics of poverty > international trade > trade pact
social science subjects > business and management > international business > international trade > trade pact
social science subjects > politics and international relations > international relations > international trade > trade pact
... > social science subjects > criminology and criminal justice > criminology > law and society > law and political science > international trade > trade pact
... > social science subjects > politics and international relations > political science > law and courts > law and society > law and political science > international trade > trade pact

Preferred term

trade pact  

Definition

  • A trade pact eliminates trade restrictions among its member countries while discriminating against third parties. Trade pacts can be constructed as preferential trade agreements (arrangements with a limited degree of tariff preferences) or as free trade areas (FTA) where tariffs on trade among member countries are removed, while tariffs for imports of nonmembers are not changed. [Source: Encyclopedia of Business in Today's World; Trade Pact]

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https://concepts.sagepub.com/social-science/concept/trade_pact

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