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EU Trade

International trade within European nations has benefited greatly from the establishment of the European Union. The development of the EU has rarely been consistent and often been contentious, but the result is a market area that is now the single largest in the world. In global trade, the EU is the world’s biggest exporter of manufactured goods and services, as well as the largest importer for more than 100 countries. The borders may still exist between the 28 nations that comprise the EU, but the union has made it much easier for goods, services and capital to move freely between consumers and investors. Free trade was, in fact, among the EU’s founding principles. What began with six countries in the 1950s, as a new organization formed from the European Coal and Steel Community and the European Economic Community, has evolved and expanded over subsequent decades through the addition of new member states and institutions. The EU was formally established under its current name in 1993, and in 2002 the Euro was established (amidst some controversy and member discontent) as the union’s primary legal tender. The EU also has its own parliament, central bank and court of justice. The Prominence of EU Trade EU trade is conducted under the rules established by the World Trade Organization. According to European Commission statistics, more than 16 percent of the world’s imports and exports are traded within the European Union. Free trade agreements have expanded the union’s worldwide network, generating additional growth, jobs and markets. Serving some 500 million consumers, the EU is the largest economy and the largest trading block in the world, and is likely to remain so through its open markets, secure legal investment framework, and low import tariffs.

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Digital connectivity produces more shipments of export cargo and import cargo in international trade.

Trump has imposed tariffs on steel and aluminum shipments of export cargo and import cargo in international trade.

data portal facilitates shipments of export cargo and import cargo in international trade.

Ports are working collaboratively to handle shipments of export cargo and import cargo in international trade.

New rules would govern EU ecommerce shipments of export cargo and import cargo in international trade.

Companies with shipments of export cargo and import cargo in international trade need to comply with GDPR.

Budapest Airport is handling more shipments of export cargo and import cargo in international trade.

Alliances produce more shipments of export cargo and import cargo in international trade.

Expansion will allow carrier to handle more shipments of export cargo and import cargo in international trade.

Expansion will allow port to handle more shipments of export cargo and import cargo in international trade.

Free trade agreements promote more shipments of export cargo and import cargo in international trade.

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