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.
Example sentencesExamples
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.
Definition of fair-trade agreement in US English:
fair-trade agreement
noun
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.
Example sentencesExamples
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.