Common customs tariff
The common customs tariff is the set of regulations, in tariff terms, that a community territory establishes and applies as part of the conditions of the economic union undertaken by the participants of this type of trade agreement.
Therefore, it supposes the creation of a shared tariff with respect to the rest of the countries and the abolition of those previously existing among the members.
Through the provisions established in the trade of goods and services with third parties, the agreeing countries benefit from an improvement in the conditions between them. These is, facilitating your economic relationship. Thus, the existence of a common customs tariff translates into the formalization of the rights that these countries have regarding imports and exports in the customs territory that they share and against third parties.
The main objective of this regulation is to create a kind of common foreign tariff. A tariff that regulates the customs duties and payments due to the rest of the countries. Likewise, in economic unification processes between territories, establishing a common tariff policy becomes a basic economic policy instrument. Especially in matters such as the importation of merchandise.
The nature of the measures that includes the creation of a common customs tariff includes, in addition to the setting of shared external tariffs, the rules for classifying common goods and services. Also another series of measures such as anti-dumping measures and many other protection mechanisms for member states.
European Common Customs Tariff
The tariff established by the European Union (EU) with respect to third parties is a good example of this type of international trade regulation.
When Europe advanced in the creation and development of a common market, the member states eliminated their customs duties among themselves. For this, adopting its common customs tariff against third parties since 1968. A tariff that has been evolving and transforming up to the present time, being structured on the basis of the International Convention of the Harmonized System of Designation and Codification of Goods or Harmonized System (Harmonized System , HS, in English).
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