Customs Union

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Definition: Customs Union

Customs Union
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Full Definition of Customs Union

A group of countries that adopt free trade (zero tariffs and no other restrictions on trade) on trade among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to an FTA plus a common external tariff.

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https://payrollheaven.com/define/customs-union/
Modern Language Association (MLA):
Customs Union. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 23, 2024 https://payrollheaven.com/define/customs-union/.
Chicago Manual of Style (CMS):
Customs Union. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/customs-union/ (accessed: April 23, 2024).
American Psychological Association (APA):
Customs Union. PayrollHeaven.com. Retrieved April 23, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/customs-union/

Definition Sources

Definitions for Customs Union are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.