"Open door" trade refers to a policy or principle that advocates for equal access and opportunities for all nations to engage in trade with another country, without any discriminatory restrictions or preferences.
Related terms
Free Trade: A system of international trade with minimal barriers such as tariffs, import quotas, and regulations.
Protectionism: Economic policies aimed at protecting domestic industries by imposing tariffs, quotas, or other restrictions on imported goods.
Trade Deficit: When a country imports more goods than it exports, resulting in a negative balance of trade.