Common external tariff: Difference between revisions

Revision as of 09:55, 9 April 2014

Revision as of 04:48, 14 October 2016

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The common external tariff is a mild form of economic union but may lead to further types of economic integration. In addition to having the same customs duties, the countries may have other common trade policies, such as having the same quotas, preferences or other non-tariff trade regulations apply to all goods entering the area, regardless of which country, within the area, they are entering.

Important examples of common external tariff are that of the [[Mercosur]] countries ([[Brazil]], [[Argentina]], [[Venezuela]], [[Paraguay]] and [[Uruguay]]) as well as, the Common Customs Tariff of the [[Eurasian Economic Community customs union]] as well as the [[European Union Customs Union]].

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

==See also==