customs union Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “customs union” in the English Dictionary

"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 ​goodstraded between them, and to ​charge the same ​taxes on ​goodsimported from other countries: agree/form a customs union The three countries have ​formed a ​customsunion to ​promotetrade.
(Definition of customs union from the Cambridge Business English Dictionary © Cambridge University Press)
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