Fair Trade.

“Neither Dirk Hatteraick nor any of his sailors, all well known men in the fair trade, were again seen upon that coast.”—Sir Walter Scott: Guy Mannering, chap. x.

⁂ Latterly the phrase has been introduced into politics to signify reciprocity of protection or free-trade. That is, free-trade to those nations that grant free-trade to us, and vics versa.