POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The tariff is common to all EU members, but the rates of duty differ from one kind of import to another depending on what they are and where they come from. The rates depend on the economic sensitivity of products.
Detailed explanation-2: -It provides for zero tariffs and zero quotas on all goods that comply with the appropriate rules of origin.
Detailed explanation-3: -every product imported into the EU is classified under a tariff. The tariff code, also called product code, helps you understand which tariffs apply to your specific product. Accordingly, you first have to identify the tariff code of your product. You can find more information on product classification here.
Detailed explanation-4: -The EU benefits from being one of the most open economies in the world and remains committed to free trade. The average applied tariff for goods imported into the EU is very low. More than 70% of imports enter the EU at zero or reduced tariffs.