What is the European Union (EU)?

The European Union (EU) is an economic and political union of 27 member countries located primarily in Europe. It is a single market encompassing more than 500 million citizens in which goods, services, money, and people move freely. The EU also has its own currency, the euro. The purpose of the EU is to promote peace, security, and economic development among its members. The EU has adopted a common system of laws and regulations to govern the internal market. This system of laws, known as international trade law, establishes clear rules for how all products, services, and investments are traded or exchanged between countries in the EU. In Washington, international trade law governs the import and export of goods between the United States and the EU member countries. International trade law also regulates the rules for foreign investment, the movement of people and businesses between member countries, the control of intellectual property rights, the protection of labor rights, and other aspects of international trade. In the United States, international trade law is enforced by the US State Department and the Office of the US Trade Representative. The EU has been an important negotiator of international trade agreements, such as the Transatlantic Trade and Investment Partnership (TTIP). This agreement promotes increased economic growth and employment opportunities between the United States and the EU. The EU is also involved in the regulation of environmental protection and climate change. In addition, the EU is committed to reducing poverty and promoting economic, social, and political development throughout the world.

What is the European Union (EU)?

Related FAQs

Related Blog Posts