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A multilateral approach to free trade has greater potential to increase the gains from trade than a unilateral approach, because the multilateral approach can reduce trade restrictions abroad as well as at home.
Swiss Francs
The currency used by Switzerland, recognized by its code CHF.
Equivalent
Equivalent means equal in value, function, or meaning, often used in comparisons to denote similarity between different items or concepts.
Exchange Rate
The value of one currency for the purpose of conversion to another, reflecting the market's valuation of one currency compared to another.
U.S. Trade Deficit
The situation where the total value of goods and services imported by the United States exceeds the total value of its exports, reflecting a gap in trade balance.
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