Question

The united states and kenya are exploring the possibility of a trade deal. ________ refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country.

Answer 1

The united states and kenya are exploring the possibility of a trade deal. Free Trade refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country.

What is Free Trade?

A free trade policy is one in which imports and exports are not restricted. It is also known as the free market concept applied to international trade. Most countries now participate in multilateral trade agreements negotiated by the World Trade Organization. Goods and services can be purchased and sold across international borders with little or no government taxes, quotas, subsidies, or bans impeding their interchange under a free trade policy. Trade protectionism and economic isolationism are the polar opposites of free trade.

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