One characteristic of this trade agreement is that it established a common trade policy with respect to nonmembers.

Name: One characteristic of this trade agreement is that it established a common trade policy with respect to nonmembers.
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The establishment of a common trade policy with respect to nonmembers is a characteristic of a Customs Union. The other options, NAFTA, ASCAP and BMI, and NAACP, do not involve the establishment of a common trade policy with respect to nonmembers.

One Characteristic of This Trade Agreement Is That It Established