Trade agreement
A trade agreement is when two or more countries agree to buy and sell things to each other. It's like when you and your friend agree to trade your toys. You might agree to give them your stuffed bear and they might give you their toy car.
But with trade agreements between countries, it's not just toys. It can be things like food, clothes, cars, or even services like banking or education.
Usually, countries make trade agreements to try and make things better for both of them. For example, they might agree to lower the taxes or fees they charge each other when they trade. Or they might make it easier for businesses in one country to sell their products in the other country.
When countries make trade agreements, it means they are working together and helping each other. It's like when you and your friend share your toys and everyone has more fun.
But with trade agreements between countries, it's not just toys. It can be things like food, clothes, cars, or even services like banking or education.
Usually, countries make trade agreements to try and make things better for both of them. For example, they might agree to lower the taxes or fees they charge each other when they trade. Or they might make it easier for businesses in one country to sell their products in the other country.
When countries make trade agreements, it means they are working together and helping each other. It's like when you and your friend share your toys and everyone has more fun.