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Improving Economic Activity Through Tariff Reductions

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Trade is at the root of economic development. The easy movement of products and services across borders helps create an interconnected world where opportunities for international goods and companies abound. A paper by Dzerniek-Hanouze & Doherty (2013) discussed the significant advantages that can be found by opening trade routes at a national and regional level to ensure that products and services move smoothly to their destinations.  All trade is based on selling products from one entity to the next. According to Black’s Law Dictionary Trade is ,” The act or business of exchanging commodities by barter; or the business of buying and selling for money; traffic; barter.” A value laden product must transfer hands from one person to the next while a reciprocal value laden item (i.e. money) is exchanged in return.  Before revenue can be earned through the selling of products these products must be available and present for purchase. This means that the product is avail