Historic EU-Mercosur Trade Deal on the Horizon Amidst Resistance

The European Union and Mercosur are set to finalize a trade deal, overcoming 20 years of negotiations. However, resistance from EU member states like France could delay ratification, as they seek allies to block the agreement. The deal aims to enhance trade by reducing tariffs and fostering economic growth.

The European Union and the South American Mercosur bloc are nearing the finalization of a historic free trade agreement after more than 20 years of negotiations. This anticipated deal marks a significant milestone, promising to reduce tariffs and boost economic growth across both regions.

Yet, despite the progress, the agreement faces potential stumbling blocks within Europe. France, a notable opponent, is working to build opposition, with possible support from Austria, Poland, and the Netherlands. Together, these countries comprise roughly 30% of the EU populace, but they need additional allies to obstruct the deal's approval.

Recent negotiations show promise as they bridge gaps over environmental protections and government purchases, suggesting a hopeful path forward. The EU is considering fast-tracking the core trade deal with the support of a simple majority of EU lawmakers, while Mercosur's members have indicated their readiness to approve the agreement once ratified by their national legislatures.

(With inputs from agencies.)