economic unions
Integrated market alliances
Economic unions are agreements between countries that integrate their economies beyond simple free trade.
Members typically share common trade policies with outside nations, allow free movement of goods, services, capital, and labor across borders, and may coordinate tax and monetary policy.
The European Union is the most prominent example.
The treaty established an economic union among the three neighboring states.
- common marketIntegrated trading zone
- single marketIntegrated trading bloc
- free movementUnrestricted ability to travel
- marketVenue for trade
- free trade areaRegion without internal tariffs
treaties · free trade agreements · trade deal · harmonization · common currency · trade bloc · international law · sovereignty · border · exports · goods · currency · open borders · level playing field · NAFTA · tariffs · imports · Brussels
economic unionsbilateral agreements
Contracts between two nations
trade agreements · autarky · economic nationalism · unilateralism · economic independence
economic unionsprotectionism
Shielding local producers
economic nationalism · autarky · trade barriers · tariff walls · trade wars