The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020

The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020

India’s international trade posture appeared to turn protectionist in the past week, with two indicators the government sent out. For further reading, visit “The Hindu”. Below is today’s advanced word list-1 for The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020.

To read this article, click here.

This preview is provided here with permission.  

Courtesy: The Hindu

Today’s Advanced Word List 1 for The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020:

  1. trade wall (noun) – trade barrier.
  2. inseparable (adjective) – indivisible, impossible to separate.
  3. posture (noun) – standpoint, position, perspective/approach.
  4. protectionist (noun) – the use of tariff and non-tariff restrictions on imports to protect domestic producers from foreign competition.
  5. send out (phrasal verb) – produce, create, give out.
  6. play out (phrasal verb) – happen, occur, take place.
  7. virtually (adverb) – effectively, nearly.
  8. lay out (phrasal verb) – outline, draw up, formulate.
  9. free trade agreement (FTA) (noun) – a treaty/pact between two or more countries to facilitate trade and eliminate trade barriers.
  10. preferential trade agreement (PTA) (noun) – a treaty/pact between countries that reduces tariffs for certain products to the countries who sign the agreement.
  11. provision (noun) – term, clause, requirement.
  12. substantially (adverb) – considerably, significantly, largely.
  13. penalise (verb) – punish, discipline, deal with.
  14. third countries (noun) – all countries that are not included in the lists of EU (European Union) and EFTA (European Free Trade Association) states are called third countries.
  15. on the rise (phrase) – increasing.
  16. undue (adjective) – excessive, extreme, immoderate.
  17. stringent (adjective) – strict/stern, severe, tough/rigorous.
  18. dumping (noun) – sending unsalable goods from a home market to a foreign market for sale at a low price.
  19. consequence (noun) – outcome, ramification, repercussion.
  20. put someone on notice (phrase) – give a warning to, forewarn; notify, inform.
  21. obligation (noun) – necessary condition/necessity, requirement; duty/responsibility.
  22. preferential tariff (noun) – a tariff plan, under which one/more nations are given lower rates or other advantages over others, that reduces tariff for certain products.
  23. deem (verb) – regard as, consider; view as.
  24. trade deficit (noun) – a trade deficit (a deficit in the balance of trade) occurs when the value of a country’s imports exceeds that of its exports. It is also called a trade gap.
  25. asymmetry (noun) – non-uniformity, unevenness, lopsidedness.
  26. walk out (phrasal verb) – depart, leave suddenly.
  27. be easier said than done (phrase) – used to say that something sounds like a good idea in theory, but it would be very difficult to do.
  28. break with (phrase) – stop/cease relations with someone/something.
  29. bilateral (adjective) – involving two groups or countries.
  30. legal scrubbing (noun) – after any major treaty negotiation is concluded, the final text of the agreement will be vetted (evaluated/assessed) by a group of lawyers of the state parties. This procedure is commonly referred to as “legal scrubbing” and can result in minor changes to the treaty text.
  31. bound (adjective) – obligated,  duty-bound, compelled, constrained.
  32. multilateral (adjective) – involving many different countries (in which all WTO member countries are party to the agreement).
  33. road ahead (phrase) – future.
  34. scenario (noun) – course of events, situation.
  35. await (verb) – wait for, expect, look for.
  36. bonhomie (noun) – friendliness, warmth, geniality/affability.
  37. Brexit (noun) – a term used for the (supposed) departure of the United Kingdom from the European Union.
  38. unlikely (adjective) – questionable, unconvincing; doubtful, unexpected.
  39. make headway (phrase) – make progress, advance, proceed, get ahead.
  40. the spotlight (noun) – the public attention, the focus of public/media interest.
  41. Brussels (noun) – The headquarters of the European Union. Brussels is a metonym of the European Union.
  42. revive (verb) – revitalize, regenerate, reinstitute, bring back.
  43. leave off (phrasal verb) – discontinue, give up, discard, eschew/abandon.
  44. scrap (verb) – abandon, cancel, abolish/throw out.
  45. anticipated (adjective) – expected, predicted.
  46. non-paper (noun) – a discussion paper which is not to form part of formal business, especially in the UN.
  47. misgivings (noun) – doubt, suspicion, distrust.
  48. fruition (noun) – realization, achievement, accomplishment/completion.
  49. safety net (noun) – something which gives protection against misfortune or difficulty.
  50. hindrance (noun) – obstacle, impediment, block.
  51. multilateralism (noun) – a method of coordinating  relations between groups of three or more states (countries).
  52. retrenchment (noun) – an act of cutting down or reduction, particularly of public expenditure; spending less money.
  53. intransigence (noun) – refusal to change opinions/views or agree/compromise something.
  54. steam (noun) – energy, momentum, impetus.
  55. arbiter (noun) – someone who has ultimate authority/power.
  56. invoke (verb) – cite, refer to, appeal to. 
  57. trade surplus (noun) – it occurs when the value of a country’s exports exceeds that of its imports.
  58. most favoured nation (MFN) status (noun) – While the term suggests special preference for the country given MFN status, it actually means it would be treated equally as all others. According to the World Trade Organisation rules, countries cannot normally discriminate between their trading partners. If one country is granted a trade concession such as, for example, lower import duties, then all WTO members must be extended the same concessions. This principle is known as the Most Favoured Nation treatment.
  59. Gross domestic product (GDP) (noun) – a measure of economic activity in a country. It is the total value of a country’s annual output of goods and service.
  60. averse (adjective) – opposed to, against, hostile.
  61. mobility (noun) – adaptability, flexibility, versatility, adjustability.
  62. sticky (adjective) – awkward, difficult, problematic.
  63. inhibit (verb) – hinder, restrain, prevent.
  64. backing (noun) – support, help, assistance.
  65. demographic (adjective) – the statistical study/structure of populations, especially human beings.
  66. might (noun) – strength, force, power.
  67. purchasing power (noun) – the ability to buy something (goods/services).
  68. rive (verb) – split, tear apart, rip apart, rupture/break suddenly.
  69. unrest (noun) – disruption, agitation, turmoil, chaos.
  70. inward (adverb) – inside, towards the inside, within.
  71. disengage (verb) – detach, disconnect, separate.
  72. accompany (verb) – coincide with, coexist with, go together with.

Note:  

 1. Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.
2. Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context. 
3. This word list is for personal use only. Reproduction in any format and/or Commercial use of it is/are strictly prohibited.

Today’s Advanced Word List 1 for The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020:

The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020 The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020 The Hindu Lead Article (The high cost of raising trade walls) – Feb 08, 2020

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