The landscape of global trade would look very different, with both positive and negative impacts. Here’s a handful of examples highlighting how things would change:
 
The positives:
Goods could travel freely across borders without delays caused by inspections, duties, or paperwork, speeding up international deliveries. Businesses and individuals could ship and receive products without any bureaucratic hurdles.
 
Without customs fees, tariffs, or taxes, goods would likely be cheaper for consumers. Both businesses and end customers would save on import duties and clearance fees.
 
With no barriers or restrictions, global trade could flourish, enabling companies to reach more international markets faster. Small businesses would have fewer obstacles to entering the global market.
 
The negatives:
The lack of regulations could lead to counterfeit products, unsafe goods, or prohibited items entering markets unchecked. Health and safety standards could be compromised as dangerous or low-quality products move freely across borders putting people at risk.
 
Without import tariffs, domestic industries could struggle to compete with cheaper foreign products. This might lead to local job losses, industry closures, and negative impacts on economies reliant on protective customs policies.
 
Customs duties provide significant revenue for governments. Without them, governments might struggle to fund critical public services, or they could shift the burden to other taxes.
 
Without customs to enforce environmental protections, harmful goods or products that violate eco-friendly regulations could move more freely, increasing pollution and ecological damage.
 
Summary
Positives

  • Seamless movement of goods
  • Less costs
  • Increased global trade

 
Negatives

  • Uncontrolled flow of goods
  • Economic imbalance
  • Loss of revenue for governments
  • Environmental impact