[Lambswool tax] The U.S. and Canada are members of the World Trade Organization and GATT. Frustrated by the tough competition from Canadian suppliers, Lambswool suppliers in the U.S. have pressured Congress to pass a law requiring importers to pay a tax per pound of lambswool imported to the U.S. and restricting the number of pounds of lambswool imported from specific countries, including Canada. Wholly Wool, Inc., is a Canadian company that sells lambswool that is nearly identical to lambswool produced and sold in the U.S.
-The European Union (EU) is considered a(n) ________ and is considered the largest regional trading bloc in the world.

Question

Quizplus · Accepted Answer

The European Union (EU) is a customs union, which is a group of countries that have agreed to charge the same import duties as each other and usually to allow free trade between themselves.

[Lambswool Tax] the U