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.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

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https://payrollheaven.com/define/customs-union/
Modern Language Association (MLA):
Customs Union. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
November 08, 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: November 08, 2024).
American Psychological Association (APA):
Customs Union. PayrollHeaven.com. Retrieved November 08, 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.