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.
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The United States launched fresh strikes on Iranian drone targets near Bandar Abbas after intercepting attack drones over the Strait of Hormuz, raising tensions despite an existing ceasefire between Washington and Tehran.
Dozens of people were killed in Israeli strikes on Lebanon on Tuesday, Lebanese officials said, straining a fragile ceasefire agreed between the countries in April. The attacks came as Iran accused the U.S. of violating a separate ceasefire with strikes near the Strait of Hormuz.
Britain has announced fresh sanctions targeting cryptocurrency exchanges, financial networks and banks accused of helping Russia evade Western restrictions imposed after the invasion of Ukraine.
Muslims around the world have marked Eid al-Adha with prayers, celebrations and acts of charity, though for many Palestinians the holiday unfolded amid conflict, restrictions and loss.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
Dozens of people were killed in Israeli strikes on Lebanon on Tuesday, Lebanese officials said, straining a fragile ceasefire agreed between the countries in April. The attacks came as Iran accused the U.S. of violating a separate ceasefire with strikes near the Strait of Hormuz.
Chinese investigators have uncovered hidden tunnels, missing worker trackers and fake underground walls during an initial investigation into the country’s deadliest mining disaster in more than 15 years.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
The visit by U.S. Secretary of State Marco Rubio to Armenia marks one of the clearest signs yet of Washington’s growing interest in the South Caucasus.
Bolivia’s President Rodrigo Paz has taken steps towards potentially declaring a state of emergency as anti-government protests intensify in the early months of his administration.
Britain has announced fresh sanctions targeting cryptocurrency exchanges, financial networks and banks accused of helping Russia evade Western restrictions imposed after the invasion of Ukraine.
China’s carbon emissions grew far less than previously thought over the past five years, according to a new analysis that is drawing close attention from climate researchers worldwide.
Muslims around the world have marked Eid al-Adha with prayers, celebrations and acts of charity, though for many Palestinians the holiday unfolded amid conflict, restrictions and loss.
Spanish police visited the headquarters of the ruling Socialist Party (PSOE) in Madrid on Wednesday as part of a widening High Court investigation into alleged attempts to interfere with judicial proceedings involving party and government figures.
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