Free Traders vs. Protectionist
Trade
Free Traders
The opposite of protectionism is free trade, open trade between nations without any barriers to imports.This is a policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries. Free trade is exemplified by the European Economic Area and the North American Free Trade Agreement, which have established open markets.
NAFTA
The North American Free Trade Agreement (NAFTA) was negotiated among the United States, Canada and Mexico for the purpose of removing barriers to the exchange of goods and services among the three countries.
ASEAN
- Increase ASEAN's competitive edge as a production base in the world market through the elimination, within ASEAN, of tariffs and non-tariff barriers; and Attract more foreign direct investment to ASEAN.
EU
An agreement that helps Canada’s relationship with the European Union.it covers all aspects of our broad trading relationship with the EU, including goods, services, investment, and government.
Proctectionist
Protectionist
Protectionism refers to government actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition. Typical methods of protectionism are import tariffs, quotas,subsidies or tax cuts to local businesses and direct state intervention.