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Free Trade Areas vs. Customs Unions: What’s the Difference?

Geoff Riley

28th February 2025

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In this video, Geoff Riley breaks down one of the most important trade concepts in international economics: Free Trade Areas (FTAs) vs. Customs Unions

✅ What exactly is a Free Trade Area?

✅ How is it different from a Customs Union?

✅ What are the real-world examples that matter for your exams?

We’ll explore how trade agreements like USMCA (formerly NAFTA), EFTA, the EU Customs Union, and Mercosur work in practice. Plus, we’ll explain why rules of origin create challenges for countries like the UK after Brexit. 🇬🇧📦

If you're an A-Level, IB, or GCSE Economics student (or an economics teacher!), this video is a must-watch to ace your exams. 🏆🔥

Free Trade Areas vs. Customs Unions: What’s the Difference?
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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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