Barriers to international trade – Business and globalisation – Edexcel – GCSE Business Revision – Edexcel

The European Union (EU) is an example of a trading bloc. All of the countries within the EU can trade freely with each other, which means that no tariffs are put in place. This makes goods and services cheaper, which is good for both businesses that export and businesses that import within the EU. However, the EU also charges tariffs on many goods and services imported from outside the EU, which makes them more expensive.