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Bible Encyclopedias

The Nuttall Encyclopedia

Reciprocity

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A term used in economics to describe commercial treaties entered into by two countries, by which it is agreed that, while a strictly protective tariff is maintained as regards other countries, certain articles shall be allowed to pass between the two contracting countries free of or with only light duties; this is the cardinal principle of Fair Trade, and is so far opposed to Free Trade.

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Public Domain.

Bibliography Information
Wood, James, ed. Entry for 'Reciprocity'. The Nuttall Encyclopedia. https://www.studylight.org/encyclopedias/eng/nut/r/reciprocity.html. Frederick Warne & Co Ltd. London. 1900.

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