"The European Commission, which concluded negotiations a year ago, and countries such as Germany and Spain argue it is a vital part of an EU push to unlock new markets to offset business lost from U.S. tariffs and to reduce reliance on China by securing access to critical minerals. Opponents led by France, the European Union's largest agricultural producer, say the agreement will jack up imports of cheap food products, including beef, poultry and sugar, undercutting domestic farmers."
"Todays vote has cleared the way for Commission President Ursula von der Leyen to sign the agreement with Mercosur partners - Argentina, Brazil, Paraguay and Uruguay. The free trade agreement would be the European Union's biggest in terms of tariff reduction, removing €4 billion of duties on its exports. The Mercosur countries have high tariffs, such as 35% on car parts, 28% on dairy products and 27% on wines."
EU capitals had a deadline to confirm votes in writing by 5 p.m. Brussels time. The deal would be the largest trade accord the EU has concluded but requires European Parliament approval before entering into force. The Commission and countries such as Germany and Spain view the agreement as key to opening new markets, offsetting business lost from U.S. tariffs and reducing reliance on China by securing access to critical minerals. Opponents led by France, joined by Ireland, Poland and Austria, warn about increased imports of cheap agricultural goods harming domestic farmers. The Commission proposed safeguards including import suspensions for sensitive produce, stronger pesticide residue controls, a crisis fund, accelerated farmer support and cuts on fertiliser duties; Italy shifted from no to yes.
Read at Irish Independent
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