EU-Mercosur Trade Deal: On the Horizon Amidst Opposition
The EU aims to approve its trade deal with the Mercosur bloc by summer. Despite finalizing the deal in December, opposition persists, notably from France, over potential impacts on European farmers. Discussions between French and Brazilian leaders have centered on improving the deal with clauses addressing concerns.
The European Union may greenlight its trade agreement with the South American Mercosur bloc by summer, despite an unspecified approval date, according to EU agriculture commissioner Christophe Hansen. The deal, concluded in December, still requires the nod from EU nations.
Obtaining approval has been challenging, especially due to French opposition, citing potential harm to European farmers who adhere to more stringent regulations than Mercosur counterparts. French President Emmanuel Macron and Brazil's President Luiz Inacio Lula da Silva discussed their stances on strengthening the pact during a meeting in Paris, with Macron suggesting the implementation of mirror clauses to enhance the text.
France has previously advocated for an emergency break clause to limit imports in case of market destabilization. However, Hansen rejected reopening negotiations to add more safeguards, asserting that agricultural sectors are eager for new market opportunities the deal presents.
(With inputs from agencies.)
Google News