What is the European Union (EU)?

The European Union (EU) is an economic and political partnership between 28 member countries in Europe. It began as an effort to create a unified market among European countries in order to promote cooperation and increase trade. The EU operates like a single market, meaning that goods, services, and capital can flow freely between member countries. This eliminates the need for tariffs and other trade barriers and makes it easier for businesses to trade across borders. It also helps to create a larger, more unified economy within Europe. As of 2021, the EU has a total GDP of over 16 trillion US dollars. The EU is more than just a free trade agreement. It also works to ensure the protection of its citizens through regulations on health, safety, and environmental standards. The EU also works together to ensure the enforcement of international law and provides assistance to member countries in need. In Massachusetts, much of the international trade is done with countries within the European Union. The importance of this relationship has only increased in recent years, as Massachusetts businesses enjoy access to a larger market for their goods and services. As a result, many Massachusetts companies have become more engaged in global trade.

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What is the European Union (EU)?

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