Country A And Country B Entered Into A Free Trade Agreement Recently

(Note that for this to be possible, country B must have tariffs or other trade restrictions for imports from country C, otherwise B`s entire market would be delivered by C.) One of the reasons free trade advocates can support regional trade agreements is that they are seen as moves towards free trade. Indeed, Section 24 of the original GATT allows signatory countries to conclude free trade agreements and customs unions, although preferential agreements violate the principle of non-discrimination. . . .