"The EU's planned Mercosur trade agreement with four Latin American countries appeared at risk of yet another delay, or possibly even collapse, on Wednesday, a day before leaders were set to discuss it at a Brussels end-of-year summit. German Chancellor Friedrich Merz appealed for leaders to get the deal over the line, but France's President Emmanuel Macron and Italian Prime Minister Giorgia Meloni both expressed hesitancy in speeches to their national parliaments. As one of the groups most opposed to the planned deal, French farmers staged protests across the country, including outside the European Parliament in Strasbourg. Meanwhile, across the Atlantic in Brazil, President Luiz Inacio "Lula" da Silva threatened that if the deal was not finalized as planned this year, he would not entertain a new iteration of it again during his tenure."
"The agreement would enable freer trade in several areas between members of the EU and four of Mercosur's largest members Argentina, Brazil, Paraguay and Uruguay. It was finalized late in 2024 after 25 years of negotiations. A parallel agreement including four non-EU members that are part of the European Free Trade Area (EFTA) is also signed and pending ratification. The deal would allow the EU to export more vehicles, machinery, wines and spirits to Latin America, while facilitating the entry of South American beef, sugar, rice, honey and soybeans into Europe. Advocates like Germany, Spain and Nordic countries argue that it will help exports hit by US tariffs under Donald Trump and reduce dependence on China by facilitating easier access to minerals from Latin America."
The EU-Mercosur trade agreement would liberalize trade between the EU and Argentina, Brazil, Paraguay and Uruguay after 25 years of negotiation and a late-2024 finalization. The deal is pending ratification and has a parallel EFTA agreement also awaiting approval. Supporters point to increased EU exports of vehicles, machinery, wines and spirits and improved access to South American beef, sugar, rice, honey and soybeans, along with mineral supply diversification from Latin America. Several EU leaders, including France and Italy, have expressed reservations, while French farmers have mounted protests and Brazil's president warned against further renegotiation.
Read at www.dw.com
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