• U.S.

Western Europe: Big Step

1 minute read
TIME

Europe last week witnessed the creation of the first major industrial free-trade area among sovereign nations in modern times. The European Free Trade Association, composed of seven nations on the perimeter of the Common Market, eliminated the last remaining industrial tariffs among its members. It reached its goal a full 18 months ahead of the Common Market’s scheduled reduction to zero of all tariff levels on industrial products.

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