Historic EU-Mercosur Trade Deal Faces Opposition Hurdles

EU ambassadors have given provisional approval to a record free trade agreement with the Mercosur group after 25 years of negotiation. The accord promises significant tariff reductions, but faces criticism from France and environmental groups. EU member states have until the end of the day to confirm their positions.

In a significant development, EU ambassadors provisionally approved the bloc's largest-ever free trade deal with the Mercosur group after a lengthy 25-year negotiation period. The agreement, to be signed as early as next week, aims to unlock new markets and reduce dependence on the U.S. and China.

Despite key support from countries like Germany and Spain, strong opposition remains. France, the EU's major agricultural producer, has raised concerns about cheap food imports undermining local farmers. Protests erupted across the EU, with farmers blocking highways and demonstrating in several nations.

The agreement, which eliminates €4 billion in tariffs, still requires European Parliament approval. The European Commission has implemented safeguards to mitigate impacts on sensitive agricultural sectors. Meanwhile, environmental groups have criticized the deal, and a final parliamentary vote is anticipated in the coming months, likely in April or May.

(With inputs from agencies.)