Episode Details

EU Provisionally Applies New Free Trade Deal with Mercosur: A Major Step Towards Broader Economic Ties

The European Union has announced its intention to provisionally apply its new free trade deal with the South American Mercosur bloc, following twenty-five years of negotiations. This agreement, the EUs largest ever pact in terms of tariff cuts, will eliminate around four billion euros in duties on European exports, opening up major markets for EU goods. Supporters, including Germany and Spain, argue that the deal is crucial for offsetting losses from US tariffs and reducing Europes dependence on China for key minerals. However, France, as the blocs top agricultural producer, leads the opposition, fearing that the deal will flood markets with cheap beef, sugar, and poultry from Mercosur countries, hurting local farmers. By moving forward provisionally, the EU aims to secure a first-mover edge before others join in, potentially paving the way for broader economic ties across the Atlantic.

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