Trade suppression
Trade suppression: a term introduced by Jacob Viner and popularized by Max Corden. It describes the replacement, following the formation of a customs union or a free-trade area, of a cheaper production source outside the union or area by a more expensive source within the newly formed preferential area. The more expensive source would be more competitive because it could benefit from the absence of tariffs. See also trade creation and trade diversion.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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