Review:
Free Trade Agreement
overall review score: 4.2
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score is between 0 and 5
A free trade agreement is an agreement between countries that eliminates barriers such as tariffs and quotas to facilitate the international exchange of goods and services.
Key Features
- Reduction or elimination of tariffs
- Increased market access
- Enhanced investment opportunities
- Economic growth and development
Pros
- Promotes economic growth
- Creates more job opportunities
- Increases competition leading to better quality and lower prices for consumers
Cons
- Can lead to job displacement in certain industries
- May favor larger corporations over small businesses
- Can impact domestic industries negatively if not properly managed