Concept information
Preferred term
common external tariff
Definition
- A common external tariff is an agreement among two or more countries to adopt identical tariff schedules for all goods being imported from other trading partners. Having a common external tariff is the central feature of a customs union, which is an agreement among countries to eliminate internal tariffs and establish a common external tariff. [Source: Encyclopedia of Business in Today's World; Common External Tariff]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/common_external_tariff
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