An agreement, typically illegal, between a manufacturer of a trademarked item in the US and its retail distributors to sell the item at a price at or above that designated by the manufacturer.
- Essentially, I now buy organic bananas not just because they are pesticide-free, but also because they have been produced under a fair-trade agreement, giving producers a fair price and protecting their health and livelihood.
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Syllabification: fair-trade a·gree·ment
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