multilateral trade liberalization

Definition

Economics

  • Reduction of tariffs and/or nontariff barriers by one or (usually) more countries on imports from all countries (or all members of the WTO). This is most likely to happen as a result of multilateral trade negotiations, such as the various GATT and WTO Rounds.
http://www.dictionarycentral.com/definition/multilateral-trade-liberalization.html