reciprocity

Definitions (2)
Popular Terms
1. General: Exchange of equal or identical advantages or privileges, such as removal of traveling restriction between two countries.
2. International trade: Lowering of import duties and other trade barriers in return for similar concessions from another country. Reciprocity is a traditional principle of GATT/WTO, but is practicable only between developed nations due to their roughly matching economies. For trade between them and developing nations, the concept of relative reciprocity is applied whereby the developed nations accept less than full reciprocity from their developing trading partners.

Use 'reciprocity' in a Sentence

The country formally terminated its part in the reciprocity agreement as it found other countries were lax and neglectful in upholding their end of the deal.
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I don't think it will be that hard for me to move across the country with my job because teachers have reciprocity in other states.
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I have a vendor I give a lot of business to. The other day, he called me and said out of appreciation he'd refer a huge client to me. Low and behold, I closed a big deal thanks to his reciprocity.
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