Customs Union
/ˈkʌstəmz ˈjuːnjən/
Definitions
- (n.) An agreement between two or more countries to remove tariffs and adopt a common external tariff on imports from non-members, facilitating free trade among members.
The countries formed a customs union to promote economic integration and eliminate internal border controls.
Forms
- customs union
- customs unions
Related terms
See also
Commentary
A customs union differs from a free trade area in that members apply a common external tariff to non-members.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.