What is a preferential trade agreement?

Answer According to a preferential trade agreement is a form of economic integration between two nations that reduces or eliminates tariffs on certain items. In other words it grant... Read More »

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What is a trade agreement?

Trade agreements encourage nations to trade goods they produce with each other. Pacts such as the North American Free Trade Agreement and the General Agreement on Tariffs and Trade have opened mark... Read More »

What is a free-trade agreement?

Governments have various ways of promoting trade. One way is through trade agreements. A free-trade agreement is an understanding between specified countries that goods and services can cross betwe... Read More »

What is a multilateral trade agreement?

Nations regulate the sale of goods and services, or trade, with other countries through agreements. When only two nations are involved, they form bilateral agreements. But a multilateral trade agre... Read More »

What Is the General Agreement on Tariffs & Trade?

The General Agreement on Tariffs and Trade (GATT) began as a multilateral agreement between nations that acted very much like a world trade organization in practice. It has since been replaced by t... Read More »