A common

commercial policy A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade. Commercial policy is an all encompassing term that is used to cover topics which involve international ...

involves several states coordinating some or all aspects of their trade policy. It is sometimes agreed by treaty within a

customs union A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set u ...

. In the case of the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

, a form of the EU's common commercial policy has been in place since 1957. A common commercial policy is also an aim of Mercosur.

References

{{international-trade-stub Commercial policy Economic integration International economics