A trade pact (also known as trade agreement) is a wide ranging tax, tariff and trade pact that often includes investment guarantees. The most common trade pacts are of the preferential and free trade types are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories.
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Famous quotes containing the words trade and/or pact:
“Teaching your child a trade is better than giving him a thousand ounces of gold.”
—Chinese proverb.
“I make a pact with you, Walt Whitman—
I have detested you long enough.”
—Ezra Pound (1885–1972)
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