Free trade is an economic policy that allows goods and services to be exchanged between countries without tariffs, quotas, or other restrictions. This approach encourages competition and can lead to lower prices for consumers, as businesses can source materials and products from the most efficient producers globally. Supporters of free trade argue that it promotes economic growth and innovation by allowing countries to specialize in what they do best. However, critics raise concerns about potential job losses in certain industries and the impact on local economies, highlighting the need for balanced trade agreements that consider all stakeholders.