restricted trade
/rɪˈstrɪktɪd treɪd/ · re·stric·t·ed trade
noun
- A type of trade that is subject to restrictions, such as quotas, tariffs, or embargoes. The country imposed restrictions on restricted trade with its neighboring countries to protect its domestic industry.
- A trade that is limited or controlled by a specific agreement or treaty. The two nations negotiated a treaty to regulate restricted trade between their countries.
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Did you know? The concept of restricted trade has been a topic of debate among economists and policymakers for centuries, with some arguing that it can protect domestic industries and others claiming it can lead to trade wars and economic stagnation.