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Bilateral Trade Agreement
An agreement between two countries that lowers tariffs and trade barriers on most goods and services traded between them.
Exports
Goods or services produced in one country and sold to buyers in another, contributing to a country's economy by bringing in revenues.
Mercantilism
An economic theory and practice dominant in Europe from the 16th to the 18th century, focusing on accumulating wealth through trade and having a positive balance of trade.
Higher Rates
Increased levels of a particular measure, often referring to interest, inflation, or pricing rates compared to a standard or previous period.
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