Historic EU-Mercosur Trade Accord Nears Approval Amidst Controversy and Division

The European Union edges towards approving its largest free trade agreement with South American Mercosur, after extensive negotiations. The deal aims to reduce reliance on China and offset U.S. tariffs by accessing key South American markets. However, concerns over domestic agriculture have sparked protests and opposition within Europe.

The European Union is on the brink of sanctioning its largest free trade pact with the South American bloc Mercosur, pending approval by member states on Friday. This monumental accord, over 25 years in the making, seeks to open new commercial avenues amid challenges posed by U.S. tariffs and dependence on Chinese market dynamics.

Led by Germany and Spain, proponents of the agreement highlight its importance in securing access to essential minerals, key to Europe's economic strategy. However, France, the EU's leading agricultural producer, is spearheading opposition, citing fears of increased imports of inexpensive agricultural products which may harm local farmers. Tensions are high as farmers stage protests across the EU.

Final approval hinges on the positions of member state ambassadors, with formal consent potentially coming on Friday or next Monday. The European Commission has introduced measures like import safeguards and crisis funds to allay agricultural sector fears. Still, the forthcoming vote in the European Parliament remains contentious, particularly with environmental groups decrying the accord's climate impact.

(With inputs from agencies.)