The European Union and South America's Mercosur bloc have reached a historic agreement on a long-delayed free trade deal, but the pact now faces fierce opposition in Europe, particularly from France.
The European Union and South America's Mercosur bloc have reached a historic agreement on a long-delayed free trade deal, marking a major step in global trade relations. However, the deal now faces significant hurdles for approval within the EU, with France leading the opposition.
French officials have branded the agreement "unacceptable," voicing concerns over imports of South American commodities like beef, which critics argue fail to meet the EU's stringent green and food safety standards. European farmers have also protested the deal, fearing it will undercut their markets with cheaper imports.
Meanwhile, countries like Germany and Spain have defended the agreement, emphasizing its importance in diversifying EU trade. Proponents argue the deal is critical in reducing reliance on China and compensating for the loss of the Russian market.
As the EU prepares to debate the deal, the pact faces a contentious path to ratification, reflecting stark divisions within the bloc over its trade priorities and environmental commitments.
Read next
15:57
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.
02:30
EU Trade Commissioner Maros Sefcovic said Monday that Brussels is committed to reaching a “constructive” trade agreement with the US.
23:56
European shares started the week positively on Monday, recovering losses from the previous session after U.S. President Donald Trump postponed his plan to impose a 50% tariff on European goods.
19:57
The European Union has rejected Russia’s request to open WTO consultations over its carbon border tariff, saying talks are not possible due to Russia’s ongoing war against Ukraine.
15:46
World News
The European Union has warned fast-fashion giant Shein to comply with consumer protection laws or face possible fines, intensifying scrutiny of the online retailer’s business practices.
What is your opinion on this topic?
Leave the first comment