The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests
International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
www.ijsr.net | Open Access | Fully Refereed | Peer Reviewed International Journal

ISSN: 2319-7064

Review Papers | Economics | India | Volume 10 Issue 2, February 2021

The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests

Aditya Syam

Theoretically, the principles of international economics prescribe universal free trade, in keeping with the idea of comparative advantage and the benefit it brings to all parties involved in trade. However, this status of absolute free trade has never been achieved, and nor does it seem likely, at least in the near future. Multiple concerns, from the protection of domestic industries to fear of over-dependence on foreign goods, makes lawmakers in nearly every nation hesitant to eliminate barriers to trade. Another major deterrent is the phenomenon that very few are willing to take the first step towards abolishing trade barriers, in the fear that non-reciprocation from their trade partners could harm their domestic economy. This article explores some of the reasons that tend to deter countries from adopting unilateral free trade, and the reasons why adopting this policy would benefit a nation irrespective of the subsequent actions of its trade partners.

Keywords: Unilateral Free Trade, Free Trade, International Economics, Trade Barriers, Trade Policy

Edition: Volume 10 Issue 2, February 2021

Pages: 62 - 64

Share this Article

How to Cite this Article?

Aditya Syam, "The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=SR21129030104, Volume 10 Issue 2, February 2021, 62 - 64

78 PDF Views | 50 PDF Downloads

Download Article PDF



Similar Articles with Keyword 'Free Trade'

Review Papers, Economics, India, Volume 10 Issue 2, February 2021

Pages: 62 - 64

The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests

Aditya Syam

Share this Article

Research Paper, Economics, India, Volume 4 Issue 11, November 2015

Pages: 2090 - 2094

India?s Free Trade Agreements: Provisions and Prospects with reference to Agriculture Products

Dr. Pushpendra Misra, Dr. Mohd Saif Alam

Share this Article

Research Paper, Economics, India, Volume 4 Issue 10, October 2015

Pages: 1165 - 1168

Impact on the Economy of Developing Countries in the Global Economic Crisis

Soliman Musbah Albandag

Share this Article

Similar Articles with Keyword 'Trade Barriers'

Review Papers, Economics, India, Volume 10 Issue 2, February 2021

Pages: 62 - 64

The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests

Aditya Syam

Share this Article

Research Paper, Economics, India, Volume 5 Issue 7, July 2016

Pages: 1811 - 1816

Tremors in World Market: A Study on Future of India after Brexit

Mnisha Shoor

Share this Article

Similar Articles with Keyword 'Trade Policy'

Review Papers, Economics, India, Volume 10 Issue 2, February 2021

Pages: 62 - 64

The Case for Unilateral Free Trade and its Benefits for a Nations Economic Interests

Aditya Syam

Share this Article

Research Paper, Economics, India, Volume 5 Issue 2, February 2016

Pages: 1960 - 1962

The Impact of Foreign Trade Policy 2015-2020 on Inclusive Growth of India

Dr. Bharati Kiyawat, Shruti Kiyawat

Share this Article

Research Paper, Economics, China, Volume 4 Issue 10, October 2015

Pages: 1217 - 1219

Research on the Modern International Trade and Commerce under the Current Economic Situation

Jun Pu

Share this Article
Top