The Mercosur trade deal, over 25 years in the making, promises to open up a market of 700 million people, eliminating tariffs for EU products.
While the deal could provide an alternative market for Europe amid potential US tariffs, it faces significant political hurdles particularly from farmer opposition.
European farmers, fearing competition from Latin American producers, are especially concerned about the trade deal’s implications, citing disparities in environmental standards.
The European Commission's leadership believes that openness and cooperation in trade will foster progress in light of protectionist threats from the US.
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