As of now, there are over 50 trade blocs globally, varying in size and scope. Some of the most prominent include the European Union (EU), North American Free Trade Agreement (NAFTA, now replaced by USMCA), and the Association of Southeast Asian Nations (ASEAN). Trade blocs can be classified into different types, including free trade areas, customs unions, and common markets, each with distinct characteristics and levels of economic integration. The exact number may fluctuate as new agreements are formed or existing ones are dissolved.
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