free trade
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free trade
A system of international trade in which there are no tariffs, quotas, or other trade barriers between countries. The goal is to make the exchange of goods and services easier.
Das Abkommen soll den Freihandel zwischen den beiden Wirtschaftsräumen fördern.
The agreement is intended to promote free trade between the two economic areas.
The word is directly understandable from its parts: it combines 'frei' (free) and 'der Handel' (trade). So it describes trade that is free from restrictions such as tariffs.
Viele Ökonomen sind Befürworter des Freihandels.
Many economists are supporters of free trade.
In connection with 'Freihandel' (free trade), verbs such as 'fördern' (to promote), 'ermöglichen' (to make possible), or 'einschränken' (to restrict) are often used. People also often speak of a 'Freihandelsabkommen' (free trade agreement) or a 'Freihandelszone' (free trade zone).
Die Länder verhandeln über eine neue Freihandelszone.
The countries are negotiating a new free trade zone.
'Freihandel' (free trade) is a technical term from politics and economics. You mainly find it in the news, specialist texts, and political discussions.
Der Professor hielt einen Vortrag über die globalen Auswirkungen des Freihandels.
The professor gave a lecture on the global effects of free trade.
free trade agreement
'das Freihandelsabkommen' and 'der Freihandel' both belong to international trade without strong barriers such as tariffs. The difference is: 'Freihandel' refers to the general system or principle, meaning free trade between countries. 'Freihandelsabkommen' refers to a specific agreement between countries that makes free trade easier or regulates it. The words can be confused because a free trade agreement often has free trade as its goal. When it is about an idea or an economic system, 'Freihandel' fits. When it is about a signed agreement between countries, 'Freihandelsabkommen' is more precise.
Viele Unternehmen hoffen, dass der Freihandel den Export einfacher macht.
Many companies hope that free trade will make exporting easier.
Die Regierung verhandelt ein neues Freihandelsabkommen mit mehreren Nachbarländern.
The government is negotiating a new free trade agreement with several neighboring countries.