Customs union: Difference between revisions
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imported>Doug Williamson (Create the page. Sources: linked pages and Lawyers for Britain http://www.lawyersforbritain.org/eu-deal-single-market.shtml) |
imported>Doug Williamson (Differentiate from a free trade agreement and area.) |
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A customs union is an area in which: | A customs union is an area in which: | ||
#No cross-border tariffs apply between member states; and | |||
#All member states must charge the same tariffs on goods entering their country from outside the customs union. | |||
A customs union is a stronger form of a free trade agreement, because of the second of these conditions. | |||
In most free trade agreements, individual participating countries retain the right to set different tariffs on goods entering their individual countries. | |||
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* [[European Customs Union]] | * [[European Customs Union]] | ||
* [[Free trade]] | * [[Free trade]] | ||
* [[Free trade agreement]] | |||
* [[Imports]] | * [[Imports]] | ||
* [[Exports]] | * [[Exports]] | ||
* [[Tariff]] | * [[Tariff]] | ||
Revision as of 06:28, 18 January 2017
A customs union is an area in which:
- No cross-border tariffs apply between member states; and
- All member states must charge the same tariffs on goods entering their country from outside the customs union.
A customs union is a stronger form of a free trade agreement, because of the second of these conditions.
In most free trade agreements, individual participating countries retain the right to set different tariffs on goods entering their individual countries.
