A __________ eliminates internal trade barriers among its members as well as adopts common external trade policies toward countries that are not members.

Question

Quizplus · Accepted Answer

A customs union is a type of trade bloc that eliminates internal tariffs and trade barriers among its member countries and adopts common external trade policies towards non-member countries. This means that members of a customs union share a common tariff policy towards non-members, which aims to protect their industries from outside competition. The European Union is an example of a customs union.

A __________ Eliminates Internal Trade Barriers Among Its Members as Well