Free Import

Definition

Free import refers to the policy of allowing goods and services to be brought into a country without restrictions or high tariffs. It promotes international trade by eliminating barriers that hinder the movement of goods across borders.

Related terms

Tariffs: Tariffs are taxes imposed on imported goods, which can increase their prices and discourage foreign competition.

Trade Barriers: Trade barriers are obstacles that restrict or impede the flow of goods and services between countries, such as quotas or regulations.

Protectionism: Protectionism refers to policies aimed at shielding domestic industries from foreign competition through measures like tariffs or subsidies.