What is the EU (European Union)?

The European Union (EU) is fundamentally a political and economic union consisting of 27 European nations that have agreed to work together closely on a variety of issues, including trade, economic policies, and legislation. It operates as a customs union, which means that member countries do not impose tariffs on goods coming from one another and have a common external tariff for goods coming from non-member countries. This structure promotes trade among EU members and facilitates economic integration.

The EU encompasses more than just a simple free trade area; it also includes policies designed to ensure the free movement of people, goods, services, and capital within its internal market. While options that suggest a free trade area or an economic alliance of Asian countries might touch upon certain aspects of international collaboration, they do not accurately capture the comprehensive and multifaceted nature of the EU's objectives and operations. Similarly, a military alliance is unrelated to the EU's primary focus, which centers on economic cooperation and governance among European nations.