trade agreement

A trade agreement is a formal arrangement between two or more countries that sets the rules for buying and selling goods and services across their borders. These agreements often aim to reduce tariffs (taxes on imports), streamline customs processes, and establish fair standards, making it easier and more affordable for countries to trade with each other. By cooperating, countries can expand their markets, promote economic growth, and improve access to various products. Essentially, trade agreements serve as mutual understandings that help countries work together smoothly in the global marketplace.