Common external tariff: Difference between revisions

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Revision as of 00:36, 22 April 2013

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{{Unreferenced stub|auto=yes|date=December 2009}}

<p> Common external tariff can be shortened to C.E.T. <p>

When a group of countries form a [[customs union]] they must introduce a '''common external [[tariff]]'''. The same customs duties, [[import quota]]s, preferences or other [[non-tariff barriers to trade]] apply to all goods entering the area, regardless of which country within the area they are entering. It is designed to end [[re-exportation]]; but it may also inhibit imports from countries outside the [[customs union]] and thereby diminish consumer choice and support protectionism of industries based within the [[customs union]].

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Similar to free trade areas, however external countries have to pay tax on goods and services that are entering.

<ref>{{cite web}}</ref> ==See also==

* [[Customs]]

* [[Harmonized System|Harmonized System (World Customs Organisation)]]