US EditionFate of Major Trade Deal with EU Hangs over Mercosur Summit
BRAZIL, JUN 30 – The EU plans to finalize a 25-year trade deal with Mercosur creating a 700-million-customer market despite political conflicts and opposition from France and South American leaders.
- Leaders of the Mercosur bloc, including Argentina and Brazil, are meeting this week in Buenos Aires amid tensions and a stalled EU trade deal.
- The summit follows Brussels’ December deal with Mercosur to create a 700-million-customer free-trade area, but France opposes ratification over agricultural and environmental concerns.
- Mercosur faces strained relations between Brazil and Argentina, worsened by Argentina's President Milei seeking a separate US trade deal and opposing Mercosur's trade restrictions.
- Ariel Gonzalez Levaggi said, 'Today, the ball is in Europe's court,' noting that French resistance hinders progress despite the deal being well advanced, according to EU spokeswoman Paula Pinho.
- The summit’s outcomes will shape Mercosur’s future trade integration, with experts expecting the bloc to endure tensions but uncertain if the EU deal or Milei’s US talks will succeed.
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75 Articles
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