Define Free trade. What are its effects?
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Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade
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Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition.
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