Question

At the core of the European Union is a unified set of tariffs with regard to goods coming in from outside the free-trade area. This is called a ________________.

Answer 1

The unified set of tariffs at the core of the European Union, regulating goods from outside the free-trade area, is known as a common external trade policy.

Step-by-step explanation:

At the core of the European Union is a unified set of tariffs with regard to goods coming in from outside the free-trade area. This is called a common external trade policy. As part of its evolution from a free trade association to an economic union, the EU has implemented this uniform tariff system across member states to regulate imports from countries that are not part of the union. A common external trade policy is key in a common market arrangement, which also promotes free trade within the group and requires coordination in areas such as fiscal and monetary policy.