Economic concessions refer to the act of making certain economic sacrifices or compromises in order to achieve a particular goal or objective. This may involve giving up some economic benefits, such as reduced taxes or tariffs, in exchange for something else, such as access to a new market or the opportunity to expand a business. Economic concessions are often made as part of negotiations between different countries or businesses, and may be used to resolve disputes, promote trade, or achieve other economic objectives. The goal of making economic concessions is to achieve a mutually beneficial outcome that allows both parties to benefit from the agreement.