Sociology of Free Trade

These flashcards contain key definitions and concepts related to free trade from the course notes.

Free Trade

Trade between countries with relatively few restrictions promoting economic globalization.

Trade Liberalization

The process where countries remove barriers to free trade between them.

Trading Bloc

A group of countries that work together to provide better trading terms or conditions.

Free Trade Agreement (FTA)

An agreement between countries to form a trading bloc, like an alliance.

USMCA

United States-Mexico-Canada Agreement that replaced NAFTA on October 1, 2018.

Maquiladoras

Foreign-owned factories near the Mexican border that assemble products for import back to the USA.

Anti-Globalization Movement

A movement protesting against global trade agreements, claiming they benefit only rich countries.

FTAA

Free Trade Area of the Americas, a proposed agreement to reduce trade barriers between North and South America.