Trade diversion
id:
trade-diversion-242-17872526
title:
Trade diversion
text:
Trade diversion is an economic term related to international economics in which trade is diverted from a more efficient exporter towards a less efficient one by the formation of a free trade agreement or a customs union. Total cost of good becomes cheaper when trading within the agreement because of the low tariff. This is as compared to trading with countries outside the agreement with lower cost goods but higher tariff. The related term Trade creation is when the formation of a trade agreement
brand slug:
wiki
category slug:
encyclopedia
description:
Economic effect of customs unions
original url:
https://en.wikipedia.org/wiki/Trade_diversion
date created:
date modified:
2023-06-17T18:39:14Z
main entity:
{"identifier":"Q7832039","url":"https://www.wikidata.org/entity/Q7832039"}
image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/c/cf/Storck_Harbour_scene.jpg","width":1590,"height":1599}
fields total:
13
integrity:
15