Question

Many nations have formed customs unions that ended tariffs and trade restrictions among its members, and adopted uniform tariffs for nonmember countries. Which of the following is a successful example of such a customs union? Asia-Pacific Economic Cooperation (APEC) North American Free Trade Agreement (NAFTA) World Trade Organization (WTO) European Union (EU)

Answer 1

A successful example of such a customs union that ended tariffs and trade restrictions among its members is the European Union (EU).

What is a customs union?

This refers to the group that have agreed to charge the same import duties to allow free trade between themselves.

Hence, an example of customs union that ended tariffs and trade restrictions among its members is the European Union (EU).

Therefore, the Option D is correct.

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