"Representatives of the European Union's member states are expected in Brussels on Friday to finalize the Mercosur free trade agreement with South American countries. At least 15 of the EU's 27 states, representing 65% of the bloc's population, must agree for the proposal to proceed. Not all EU members on the same page The deal is expected to be approved with the necessary majority, although that will be without the support of some key players."
"The deal seeks to diversify trade amid US tariffs and would bring EU member states closer to Brazil, Paraguay, Argentina and Uruguay, by removing import tariffs on more than 90% of products. The EU says businesses in the bloc stand to save billions worth of duties each year and that it will help exports of vehicles, machinery, wines and spirits to Latin America."
Representatives of EU member states are expected in Brussels to finalize the Mercosur free trade agreement with Brazil, Paraguay, Argentina and Uruguay. At least 15 of the 27 EU states, representing 65% of the bloc's population, must agree for the proposal to proceed. Several key members oppose the deal, with France withholding support and resistance from countries including Italy and Poland. The agreement would remove import tariffs on more than 90% of products, potentially saving businesses billions in duties and boosting exports of vehicles, machinery, wines and spirits. Approval could occur without unanimous backing.
Read at www.dw.com
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