Tariffs
Common External Tariff
Uniform tariff rate applied by customs union member countries to imports from non-member countries.
Uniform tariff rate applied by customs union member countries to imports from non-member countries.
In a customs union, all members apply the same tariff to imports from non-member countries, eliminating the need for intra-regional rules of origin.
Customs Union
An agreement between two or more countries to eliminate tariffs among themselves and establish a common external tariff toward third countries.
TariffsMFN Tariff (Most Favored Nation)
The maximum tariff rate a WTO member country applies to imports from any other member, guaranteeing equal treatment without discrimination among trading partners.
TariffsTariff Nomenclature
A coded classification system used to identify products in international trade and assign corresponding tariffs and taxes.