PREFERENTIAL TRADE AGREEMENT (PTA)
\pɹˌɛfəɹˈɛnʃə͡l tɹˈe͡ɪd ɐɡɹˈiːmənt tˈɑː], \pɹˌɛfəɹˈɛnʃəl tɹˈeɪd ɐɡɹˈiːmənt tˈɑː], \p_ɹ_ˌɛ_f_ə_ɹ_ˈɛ_n_ʃ_əl t_ɹ_ˈeɪ_d ɐ_ɡ_ɹ_ˈiː_m_ə_n_t__ t_ˈɑː]\
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A pact of trade, formed between two or more countries, allowing them to reduce the tariffs charged on specific goods during trade with each other. Even though the tariffs aren’t completely removed, the amount charged is much lesser than that the amount charged from countries who are not included within the agreement.
By Henry Campbell Black
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Nearby Words
- preference shares
- preferential
- preferential assignment
- preferential debt
- preferential loan
- PREFERENTIAL TRADE AGREEMENT (PTA)
- preferential transfer
- preferential voting
- preferentially
- preferment
- preferred