School of Economics | Customs unions
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ConJomo Kwame Sundaram February 27, 2018 In early 2016, the Trans-Pacific Partnership (TPP) Agreement — involving twelve countries on the Pacific Ocean rim, including the USA — was signed in New Zealand. Right after his inauguration in January 2017, newly elected US President Donald Trump withdrew...

 A customs union is a type of free trade agreement (FTA) which involves the removal of tariff barriers between members, together with the acceptance of a common (unified) external tariff (CET) against non-members. Countries that export to other countries in the customs union only need to make a...