Free Trade Law Explained
Zero imports and exports, cheaper and more competitive trade lanes mean you can have several partners to seek the absolute best prices, free of tariffs, against every other nation.
IE: Instead of selling iron to france which would lower their purchasing price from, say 70 to 30 you can instead sell to both france and austria lowering the overall price from 70 to 50 and 60 to 45, meaning by having 2 partners taking a share of iron each you get to sell the same ammount for higher prices, and you can eventually push out their other trading partners as well.
Meanwhile your industry will get more profitable, which means that, while you do get less out of tariffs, you can also, depending on taxing levels and laws, take more out of their higher proffits anyway.
Not saying it’s better, nor worse, it’s different.
Oh, also, nations are much more inclined to help you out or favor you during diplomatic incidents if you have a lot of trade volume with them too.