EU VS NAFTA

The European Union (EU) and the North American Free Trade Agreement (NAFTA) belong to two different types of regional economic integration groupings. NAFTA is a Free Trade Area, an agreement that eradicates or diminishes custom duties and non-tariff barriers amongst two or more countries while each country conserves their internal tariff policies with nations that are not part of the FTA. EU is a political union which implies that besides of not having trade barriers among the member countries, there is a complete political and economic integration.

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