Editing European Union (section)

====External trade====
{{Main|Common Commercial Policy (EU)}}
[[File:EU FTAs.svg|thumb|EU free trade agreements
{{legend|lightblue|European Union}}
{{legend|green|Agreement in force}}
{{legend|lightgreen|Agreement (in part) provisionally applied}}
{{legend|orange|Agreement signed, but not applied}}
{{legend|#ff8080|Agreement initialed, not signed}}
{{legend|yellow|Agreement being negotiated}}
{{legend|#b3b3b3|Agreement negotiations on hold/suspended}}]]

The European Union has concluded [[European Union free trade agreements|free trade agreements]] (FTAs)<ref>{{Cite web |date=15 April 2016 |title=Free trade agreements |url=http://trade.ec.europa.eu/tradehelp/free-trade-agreements |url-status=dead |archive-url=https://web.archive.org/web/20190622093930/https://trade.ec.europa.eu/tradehelp/free-trade-agreements |archive-date=22 June 2019 |access-date=22 May 2018 |publisher=European Commission}}</ref> and other agreements with a trade component with many countries worldwide and is negotiating with many others.<ref>{{Cite web |title=Agreements |url=http://ec.europa.eu/trade/policy/countries-and-regions/agreements/ |access-date=17 March 2016 |publisher=European Commission}}</ref> The European Union's services trade surplus rose from $16 billion in 2000 to more than $250 billion in 2018.<ref>{{Cite web |title=The European Union and its trade partners {{!}} Fact Sheets on the European Union {{!}} European Parliament |url=https://www.europarl.europa.eu/factsheets/en/sheet/160/the-european-union-and-its-trade-partners |access-date=7 June 2021 |website=www.europarl.europa.eu |language=en}}</ref> In 2020, in part due to the COVID-19 pandemic, China became the EU's largest trading partner, displacing the United States.<ref>{{Cite journal |last=Wong |first=Audrye |date=May 2021 |title=How Not to Win Allies and Influence Geopolitics China's Self-Defeating Economic Statecraft |url=https://www.foreignaffairs.com/ |journal=Foreign Affairs |volume=100 |issue=3}}</ref> The European Union is the largest exporter in the world<ref>{{Cite web |title=Central Intelligence Agency |url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html |url-status=dead |archive-url=https://web.archive.org/web/20081004073036/https://www.cia.gov/library/publications/the-world-factbook//rankorder/2078rank.html |archive-date=4 October 2008 |access-date=26 April 2011 |publisher=Cia.gov}}</ref> and in 2008 was the largest importer of goods and services.<ref>{{Cite web |title=World trade report 2009 |url=http://www.wto.org/english/res_e/booksp_e/anrep_e/world_trade_report09_e.pdf |publisher=WTO information website}}</ref><ref>{{Cite web |title=EU position in world trade |url=http://ec.europa.eu/trade/policy/eu-position-in-world-trade/ |access-date=24 May 2015 |publisher=European Commission}}</ref> Internal trade between the member states is aided by the removal of barriers to trade such as [[tariff]]s and [[border control]]s. In the [[eurozone]], trade is helped by not having any currency differences to deal with amongst most members.<ref name="Se-jeong">{{Cite news |last=Se-jeong |first=Kim |date=19 July 2009 |title=EU-Korea FTA Will Be a Long Process: Greek Ambassador |publisher=[[The Korea Times]] |url=https://www.koreatimes.co.kr/www/news/special/2009/07/139_48696.html |access-date=15 August 2009}}</ref> Externally, the EU's free-trade agreement with [[Japan]] is perhaps its most notable one. The [[Japan–European Union relations#Political relations and agreements|EU-Japan Economic Partnership Agreement]] was officially signed on 17 July 2018, becoming the world's largest bilateral free trade deal when it went into effect on 1 February 2019, creating an open trade zone covering nearly one-third of global GDP.<ref>{{cite web|title=European Union and Japan to sign historic trade deal|url=https://www.rte.ie/news/2018/0717/979174-eu_japan/|publisher=RTE|date=17 July 2018|access-date=17 July 2018}}</ref><ref>{{cite web|title=Japan-EU trade deal 'light in darkness' amid Trump's protectionism|url=https://www.theguardian.com/world/2018/jul/17/japan-eu-trade-deal-light-in-darkness-amid-trumps-protectionism|work=The Guardian|date=17 July 2018|access-date=17 July 2018}}</ref>