The TEEC proposed the progressive reduction of customs duties and the establishment of a customs union. It proposed to create a single market for goods, labour, services, and capital across the EEC's member states. It also proposed the creation of common transport and agriculture policies and a European social fund and established the European Commission.

Since its signature, the treaty's name has been retrospectively amended on several occasions. The Maastricht Treaty of 1992 removed the word "economic" from the Treaty of Rome's official title and, in 2009, the Treaty of Lisbon renamed it the "Treaty on the functioning of the European Union".