Brazilian Finance Minister Fernando Haddad urged the European Union to consider the political significance of its trade deal with Mercosur rather than focusing solely on economic factors.
Speaking at a conference at Sciences Po university in Paris on Monday, Haddad emphasized that while the agreement may offer limited economic benefits for Mercosur, its political value is crucial for both parties.
“In my opinion, Europe should also take a political look at this agreement, not just discuss every single 'win or lose' clause in the text,” Haddad stated.
The EU-Mercosur free trade agreement, concluded in December, promises about 4 billion euros ($4.33 billion) in annual tariff reductions. However, the deal still awaits approval from EU member states and faces resistance from countries such as France and Italy.
Haddad argued that embracing multilateralism is essential amid the uncertainty caused by U.S. tariff policies. He also noted that the Brazilian finance ministry is committed to ensuring the success of COP30, which Brazil will host in November, as part of restoring global multilateralism.
The trade deal is seen as an opportunity for both blocs to strengthen ties and counterbalance a potentially fragmented global landscape.
Since taking office in January, Trump's sweeping tariff decisions, ranging from steel to smartphones have shaken markets, sparked global tensions, and triggered legal battles, with major duties hitting China, the EU, and even U.S. allies.
At least 34 people have died in India’s northeast following days of torrential rains that triggered devastating floods and landslides, while thousands remain stranded as rescue operations intensify.
The UK will boost its fleet of nuclear-powered submarines and push defence readiness in response to evolving global threats and shifting U.S. security commitments under President Trump.
Kazakhstan’s Energy Minister met with International Renewable Energy Agencys Director General to discuss cooperation on renewable energy and the global energy transition.
Global airline growth faces major hurdles from rising trade barriers and ongoing plane delivery delays amid record passenger numbers.
Kazakhstan’s Energy Minister met with International Renewable Energy Agencys Director General to discuss cooperation on renewable energy and the global energy transition.
Since taking office in January, Trump's sweeping tariff decisions, ranging from steel to smartphones have shaken markets, sparked global tensions, and triggered legal battles, with major duties hitting China, the EU, and even U.S. allies.
At least 34 people have died in India’s northeast following days of torrential rains that triggered devastating floods and landslides, while thousands remain stranded as rescue operations intensify.
The UK will boost its fleet of nuclear-powered submarines and push defence readiness in response to evolving global threats and shifting U.S. security commitments under President Trump.
Global airline growth faces major hurdles from rising trade barriers and ongoing plane delivery delays amid record passenger numbers.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As the US-China trade standoff intensifies, Beijing has released a striking video vowing to resist pressure and uphold its global trade role, accusing Washington of economic coercion.
Russia’s Defence Ministry reported that 162 Ukrainian drones were shot down overnight during what it described as a large-scale drone attack on its territory.
Romanian authorities have evacuated dozens of residents near the Praid Salt Mine amid fears of a collapse triggered by heavy flooding, as emergency teams scramble to contain the damage and safeguard one of the country’s top tourist sites.
A woman on trial for allegedly poisoning her in-laws with deadly mushrooms has denied any intent to harm, calling the incident a tragic accident.
Uzbekistan and Belarus are strengthening their trade and industrial cooperation, aiming to boost joint business projects and economic ties.
Kazakhstan’s Energy Minister met with International Renewable Energy Agencys Director General to discuss cooperation on renewable energy and the global energy transition.
Since taking office in January, Trump's sweeping tariff decisions, ranging from steel to smartphones have shaken markets, sparked global tensions, and triggered legal battles, with major duties hitting China, the EU, and even U.S. allies.
At least 34 people have died in India’s northeast following days of torrential rains that triggered devastating floods and landslides, while thousands remain stranded as rescue operations intensify.
The UK will boost its fleet of nuclear-powered submarines and push defence readiness in response to evolving global threats and shifting U.S. security commitments under President Trump.
Global airline growth faces major hurdles from rising trade barriers and ongoing plane delivery delays amid record passenger numbers.
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