Meaning of free trade

free' trade'

Pronunciation: [key]
  1. trade between countries, free from governmental restrictions or duties.
  2. international trade free from protective duties and subject only to such tariffs as are needed for revenue.
  3. the system, principles, or maintenance of such trade.
  4. smuggling.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.