- Advantages
Trade blocks can protect their members from outside competition. They can also provide them with subsidies and tax breaks that help to keep prices competitive. In addition, they can create a unified market where goods can be traded freely without having to worry about tariffs and other barriers.
- Disadvantages
A trade block may not be able to enforce its rules equally across its member states. This means that some countries are at a disadvantage compared to others. A country's economy could suffer if it does not adhere to the rules of the trade bloc. Even though there may be benefits to participating in a trade bloc, it is important to take into consideration the costs before joining.