Negotiated Trade Agreements
Negotiated trade agreements are formal arrangements between countries that outline the terms of trade, including tariffs, import quotas, and other trade barriers. These agreements aim to promote economic cooperation and enhance trade by reducing obstacles, making it easier for countries to exchange goods and services.
Countries often engage in negotiations to address specific trade issues and create mutually beneficial conditions. Examples of such agreements include the North American Free Trade Agreement (NAFTA) and the European Union (EU) trade agreements, which help streamline trade processes and foster economic growth among member nations.