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Tariffs and Trade terms
The trade agenda and its results.
Free trade The exchange of goods and services across borders with few or no tariffs, quotas or other government barriers. Protectionism A policy of shielding domestic industries from foreign competition through tariffs, quotas or subsidies. Section 232 tariffs A trade law letting the president impose tariffs on imports found to threaten national security. Tariff A tax imposed on imported goods, raising their price and generating government revenue or protecting domestic producers. Trade deficit The amount by which a country's imports of goods and services exceed its exports in a given period.