EU-Mercosur Trade Agreement: Provisional Implementation in Sight

The European Union is poised to provisionally implement a comprehensive free trade agreement with the Mercosur group, despite EU parliament's call for legal review. Supported by South American nations and European industries, this deal aims to eliminate most tariffs and create a large free trade zone.

In a significant development, the European Union may provisionally enact a sweeping free trade agreement with the Mercosur group despite opposition in the EU parliament. The move is pending ratification by at least one Mercosur country, according to EU Commission President Ursula von der Leyen.

The intention behind this agreement is to unlock economic benefits expeditiously. European Commission President Ursula von der Leyen emphasized, "We will be ready when they are ready," highlighting the urgency for this agreement to take effect, although it awaits a formal decision.

There is a possibility of backlash, particularly from France, which has sought stronger agricultural protections. Nevertheless, with significant backing from South American nations and European industrial sectors, the agreement could decisively impact over 700 million consumers by removing tariffs on goods like Argentine beef and German cars.

(With inputs from agencies.)