Aformal arrangement between two or more countries to reduce or eliminate tariffs is known as a(n)

The answer is a free trade agreement.

Explanation:

A free trade agreement refers to a multinational agreement that is established regarding international law. The purpose of this agreement is to establish a free-trade area between the states that are involved.

Free trade agreements determine the tariffs as well as duties that the different countries impose in aspects related to imports and exports and in this way, reduce or eliminate trade barriers. Thus, international trade would be promoted.

answer; mechanics;