Definition of Recipracity

Definition of Recipracity

Reciprocity, a term used in economics to describe commercial treaties entered into by two countries, by which it is agreed that, while a strictly protective tariff is maintained as regards other countries, certain articles shall be allowed to pass between the two contracting countries free of or with only light duties; this is the cardinal principle of Fair Trade, and is so far opposed to Free Trade.

- Wikipedia

Rec`i*proc"i*ty (r&ebreve;s`&ibreve;*pr&obreve;s"&ibreve;*t&ybreve;), n. [Cf. F. réciprocité. See Reciprocal.] 1. Mutual action and reaction.

2. Reciprocal advantages, obligations, or rights; reciprocation.

Reciprocity treaty, or Treaty of reciprocity, a treaty concluded between two countries, conferring equal privileges as regards customs or charges on imports, or in other respects.

Syn. -- Reciprocation; interchange; mutuality.

- Webster's Unabridged Dictionary (1913)

a reciprocal relationship
the mutual exchange of rights, privileges or obligations between nations
(psychology) the responses of individuals to the actions of others

- The Nuttall Encyclopedia

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