The World Trade Organization with over 100 member nations is the largest institution of its kind and has the most successful record of promoting freer trade.
Free trade is the exchange of products and services between nations or subnational areas without the imposition of tariffs, quotas, or other limitations.
Under a free trade policy, there are little to no government tariffs, quotas, subsidies, or prohibitions that prevent the exchange of products and services across international borders.
The sole international body dealing with international trade regulations is the World Trade Organization (WTO). The WTO agreements, which were negotiated, signed, and ratified by the majority of the world's trading states, form its foundation.
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