Meaning of “customs union” in the English Dictionary

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"customs union" in Business English

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customs unionnoun [ C ]

uk us ECONOMICS, COMMERCE

an agreement between two or more countries to reduce or remove any taxes on goods traded between them, and to charge the same taxes on goods imported from other countries:

agree/form a customs union The three countries have formed a customs union to promote trade.

(Definition of “customs union” from the Cambridge Business English Dictionary © Cambridge University Press)