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TRADE - Coggle Diagram

- - - - Customs Union
        
        However, a free trade area can also be a customs union. In a Customs Union, all the countries involved in the group set the same tariffs for foreign products.
  - - - Due to this exit, the EU imposes taxes, tariffs, and quotas on UK products.
        
        Also, it limits the free movement of services, goods, people, and capital due to its more controlled borders.
        
        However, the UK can negotiate with the EU to at least stay in its Customs Union or in the European Trade Association (EFTA).
        
        This is something that some countries do to maintain a free trade with the EU, without belonging to the EU. Turkey and Switzerland are some examples.