The European Commission will "proceed with [the] provisional application" of the Mercosur trade deal with Argentina, Brazil, Paraguay and Uruguay, the commission's chief Ursula von der Leyen announced on Friday. The deal was signed in January after over 25 years of negotiations, despite opposition from some European farmers.
Australia and the EU are on the brink of striking a long sought after free trade agreement, with both sides talking up significant progress during talks in Brussels overnight. Ahead of a planned visit to Australia by European Commission president Ursula von der Leyen, due within months, a joint statement issued after the latest talks attended by the trade minister, Don Farrell, signalled major progress. The two sides said they had been able to converge on key differences which have dogged the deal for years.
The European Union will on Saturday sign a deal 25 years in the making with the South American trade bloc Mercosur, creating one of the world's largest free trade areas at a time of growing protectionism and volatility. The long-awaited agreement comes amid the sweeping use of tariffs and trade threats by US President Donald Trump's administration, which has sent countries scrambling for new partnerships.
Upon arrival in Mumbai, Starmer told the trade mission delegates that the deal "provides huge opportunities," adding that he had asked his team to implement the deal as "quickly as humanly possible." "Our job is to make it easier for you to seize the opportunities," Starmer encouraged the businessmen. "On the plane home, I want each of you to tell me what you got out of this trip a deal, a contact."
The meeting between Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum in September aims to address U.S. tariffs and the upcoming review of the free trade deal.
