Features Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers). Trade in services without taxes or other trade barriers. The absence of "trade-distorting" policies (such as taxes, subsidies, regulations, or laws) that give some firms, households, or factors of production an advantage over others. Unregulated access to markets. Unregulated access to market information. Inability of firms to distort markets through government-imposed monopoly or oligopoly power. Trade agreements which encourage free trade.
Features Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers). Trade in services without taxes or other trade barriers. The absence of "trade-distorting" policies (such as taxes subsidies, regulations, or laws) that give some firms, households, or factors of production an advantage over others. Unregulated access to markets Unregulated access to market information. Inability of firms to distort markets through government-imposed monopoly or oligopoly power. Trade agreements which encourage free trade.