Topic summary
EU Customs Union

Extracted from the Wikipedia article European Union Customs Union.
Common external tariffs
The EU Customs Union sets the tariff rates for imports to the EU from other countries. These rates are detailed and depend on the specific type of product imported, and can also vary by the time of year. The full WTOMost Favoured Nation tariff rates apply only to those countries that do not have a Free Trade Agreement with the EU, or are not on a WTO recognised exemption scheme such as Everything but Arms (an EU support arrangement for least developed countries).