Definition of free trade noun from the Oxford Advanced Learner's Dictionary


free trade

; NAmE
[uncountable] Economy, International relations
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a system of international trade in which there are no restrictions or taxes on imports and exports a free-trade agreement/area CollocationsInternational relationsTrade facilitate/​regulate trade (with other countries) form/​join a trading bloc live in/​compete in a global/​the world economy support/​promote free trade adopt/​call for/​oppose protectionist measures erect/​impose/​reduce/​remove trade barriers impose/​lift/​raise/​eliminate import tariffs (on something) have/​run a huge/​large/​growing trade surplus/​deficit embrace/​resist/​drive globalizationPolitics and law conduct/​handle/​talk about/​discuss foreign policy pursue an aggressive/​a hawkish foreign policy require/​use/​conduct diplomacy establish/​break off/​sever/​restore diplomatic relations foster/​promote/​strengthen regional cooperation facilitate/​achieve economic/​political integration exercise/​defend/​protect/​transfer/​restore/​regain national/​state/​full/​limited sovereignty consolidate/​extend/​lose/​retain your power (in the region) hold/​maintain/​change/​alter/​shift/​be a shift in the balance of power (in the region) cause/​create/​open/​expose/​heal/​repair a deep/​growing/​major/​serious rift between X and YMeetings and agreements have/​hold/​host/​attend an international conference/​an economic forum/​a G20 summit launch a new round of global/​multilateral/​world trade negotiations send/​head/​lead/​meet a high-level/​an official/​a trade delegation begin/​start/​continue/​resume peace talks be committed to/​be opposed to/​disrupt/​undermine/​derail/​sabotage the peace process negotiate/​achieve a lasting political settlement broker/​sign a peace deal/​agreement/​treatyConflict be/​constitute/​pose a threat to global security compromise/​endanger/​protect national security justify/​be in favour of/ (especially US English) be in favor of/​be against military intervention threaten/​authorize/​launch/​take/​support/​oppose unilateral/​pre-emptive military action impose/​enforce/​lift/​end economic sanctions/​an arms embargo/​a naval blockade close/​protect/​secure/​patrol the border lead/​be involved in a peacekeeping operationAid negotiate/​announce a $15 billion aid package/​an economic stimulus package send/​provide/​request/​cut off military aid bring/​provide emergency/​humanitarian relief deliver/​distribute medical supplies/(British English) food parcels fund/​run a foreign/​a local/​an international NGO reduce/​eradicate child/​global/​world poverty See related entries: Economy, International relations Culture After the end of the Corn Laws in the 19th century Britain was in favour of free trade, but during the Great Depression there were special charges on imports to protect local industry. In the second half of the 20th century Britain joined free-trade organizations such as EFTA, (the European Free Trade Association) and the European Union.During its history, the US has generally tried to protect its industries with charges on imports. Since the First World War, however, it has supported free trade, and in 1994 it began operating NAFTA with Canada and Mexico.
See the Oxford Advanced American Dictionary entry: free trade