What term describes the agreement that one state's tariffs on goods would be the same as its trading partner's tariff?
A)Reciprocity
B)Globalization
C)Trade equality
D)Nondiscrimination

Question

Quizplus · Accepted Answer

Reciprocity in trade agreements refers to the practice where two countries agree to apply the same tariff rates to each other's goods, ensuring a mutual benefit and fairness in trade relations.

What Term Describes the Agreement That One State's Tariffs on Goods