There is a good news for both EU and Canada.The European Commission and Canada have unveiled the details of a new trade liberalisation agreement; this means that almost all consumer tariffs will be eliminated. For me, because I am a fan of the Clarks shoes. Therefore, this could be a great chance for me buy cheaper shoes than before. Businesses in both areas can benefit from this agreement too. This agreement covers a wide range of products, such as chemicals, machineries even an insurance. This new remind me about advantages of free trade. Free trade means no restriction or trade barries exist that might prevent or limet trade between countries. Trade barries includes:tariffs, quotas, voluntary expot limits etc. The advanteges for free trading is firstly, offer consumers wider choice of products. Secondly, import and export raw materials and products can improve economy. Thirdly, import goods and services from others can creats additional competition for domestic product manufacuters. The most significant problems for this chould be that local firms may loss lots of profit because of the large competition. The obvious example is the situation of BlackBerry today.
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