When you ask most people, “Have you heard of fair trade” or “Are you familiar with fair trade”, the responses are either yes, no, I’m not sure, or it’s the same thing as free trade...right?
Well not exactly.
See the difference between the two is as followed.
Fair trade is trade in which fair prices are paid to producers in developing countries. A common fair trade product is coffee. At the grocery store, be sure to check out the coffee aisle and look for fair trade on different brands.
Free trade is when you leave international trade left to its natural course. This means there are no taxes, quotas, or other regulations.
Learn more about Fair Trade and it’s 10 principles at the World Fair Trade Organization website. http://wfto.com/fair-trade/10-principles-fair-trade
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