Review:
Trade Agreement
overall review score: 4.5
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score is between 0 and 5
A trade agreement is a pact between two or more nations to promote trade and economic cooperation by reducing barriers such as tariffs and quotas.
Key Features
- Reduction of tariffs
- Elimination of trade barriers
- Promotion of economic cooperation
- Protection of intellectual property rights
Pros
- Stimulates economic growth
- Increases trade opportunities
- Enhances market access for goods and services
- Promotes job creation
Cons
- May lead to job displacements in certain industries
- Can disadvantage smaller or less developed economies
- Requires complex negotiations and compromises