Review:
Trade Agreements
overall review score: 4.5
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score is between 0 and 5
Trade agreements are formal agreements between two or more countries to facilitate the exchange of goods and services. They typically involve reducing barriers to trade, such as tariffs and quotas, in order to promote economic growth and cooperation.
Key Features
- Reduction of trade barriers
- Promotion of economic growth
- Enhancement of international cooperation
Pros
- Increased market access for businesses
- Stimulates economic growth
- Encourages competition and innovation
Cons
- Can lead to job displacement in certain industries
- May benefit larger corporations over small businesses
- Loss of sovereignty in some policy areas