Concept information
Preferred term
trade liberalization
Definition
- Trade liberalization refers to the opening up of markets to foreign imports and entails the abolishment or reduction by governments of tariff and nontariff barriers (quotas, standards, etc.) that limit trade in goods or services across countries. Governments can liberalize trade unilaterally or on a reciprocal basis in negotiations with other countries and can apply any cuts in a preferential or a nonpreferential manner. [Source: International Encyclopedia of Political Science; Trade Liberalization]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/trade_liberalization
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