In broad liberal terms, free trade refers to unrestricted (by law and government actions) – i.e. free movement of goods, capital and labor across national borders (in other words, total elimination of economic/commercial borders).
For developed nations, the free trade policies led to a genuine and wholesale disaster, because they (1) opened the national market to murderous competition from low-cost (mostly, low-wage) producers; (2) triggered enormous capital flight as investors began to pour their funds not into national economies but into god-knows-where places; and (3) brought into Western literally millions of laborers from culturally alien nations – which created enormous social, cultural and political problems (and in the case of Islam created a very real internal existential threat to Western Civilization).
Murderous competition and capital flight annihilated entire industries and led to a radical decrease in real living standards. Prior to the “free trade” disaster, a man could provide for himself, his wife and two or even more children, while in the “free trade” environment, even two incomes in the family are not enough to provide for a decent living for a family of even three (let alone four or five).
Internationally, the free trade policies empowered the rival civilizations (first and foremost, the Chinese and the Muslim civilization) transforming them into serious threats to both the Western Civilization and to the world in general – as undermining the domination of the West will inevitably lead to chaos and descent of our civilization into a very real Hell on Earth.
Consequently, the Western governments must radically rethink their foreign trade policies and base them on the need for happiness of their constituents – not on a liberal dogma.