A trade agreement that removes all import tariffs between member countries, sets up common external tariffs against non-members, but does not advance toward economic integration is called:
A) an economic union.
B) a customs union.
C) a free trade area.
D) a common market.

Question

Quizplus · Accepted Answer

A customs union removes tariffs between member countries and sets common external tariffs against non-members, without further economic integration.

A Trade Agreement That Removes All Import Tariffs Between Member