common external tariff
A tariff rate that members of a customs union, common market, or economic union uniformly apply to imports from nonmember nations. — Abbr. CXT. — Also termed tariff exterior commun (TEC).
common external tariff Read More »
A tariff rate that members of a customs union, common market, or economic union uniformly apply to imports from nonmember nations. — Abbr. CXT. — Also termed tariff exterior commun (TEC).
common external tariff Read More »
customs union. Int’l law. A combination of two or more countries within a single customs area with a common external tariff, though each participating country remains politically independent. • The effect is that tariffs originally levied on the traffic of goods between those countries are abolished or else successively dismantled according to an agreed-upon scheme,