How will our industries be affected? Trade

A large part of the purpose of the EU is the Single Market and Customs Union. This is essentially a free trade area in Europe, with no internal tariffs, and with common standards and regulations that serve to minimise non-tariff barriers to trade. Non-tariff barriers are practices and rules like restrictive government procurement procedures, state aid, product standards, consumer protection rules, health & safety rules, and other administrative requirements. Although these practices and rules could be motivated by a valid need, they are barriers to trade because they have the effect of excluding non-domestic firms from a particular market. The EU’s Customs Union involves the application of a common external tariff on all goods entering the European market. The EU is itself a member of the World Trade Organisation (WTO) and as the EU is a single customs union with a single trade policy and tariff, the European Commission speaks for all EU member States at almost all WTO meetings.