Multilateral trade deals could pave way for global free trade
The article explores how global trade agreements affect the quest for free trade. It shows that when countries work together in trade agreements, they are more likely to achieve free trade. However, if countries have different strengths, some may try to take advantage of others. Lowering tariff rates can help prevent this and make global free trade more likely. This research suggests that multilateral trade agreements can help countries move towards free trade.