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European Commission to Provisionally Apply Mercosur Trade Deal After Mercosur Ratifications
The EU will enact tariff cuts and market access from the Mercosur deal after Argentina and Uruguay's ratifications, despite opposition and pending European Parliament approval.
- On Friday, European Commission President Ursula von der Leyen decided to press ahead with provisional application despite a judicial review by MEPs, after Uruguay and Argentina ratified the Mercosur deal on Thursday.
- Negotiated over 25 years, Mercosur links markets of more than 700 million, driven by global trade shocks from U.S. tariffs and China's restrictions, von der Leyen said.
- A sufficiently large majority—21 of 27 member states—backed the deal despite vocal opposition from France, while beef farmers and the farming lobby warn the pact will depress prices.
- The European Parliament referred the agreement to the European Court of Justice, which could take up to two years, providing the European Commission political cover to act provisionally.
- Supporters say in the coming days, the Commission can provisionally bring the deal into force, opening markets for EU exporters and echoing how CETA was applied in 2017.
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Emmanuel Macron has assured that he will never defend "an agreement that is lax about what is important and hard about what is being produced at home".
·France
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The pact may be considered fully concluded only when the European Parliament gives its consent.
It was decided by the European Commission, but only on a provisional basis while waiting for Parliament to vote: it is a long story
·Italy
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The European Union will provisionally apply a free trade agreement with the South American bloc Mercosur, European Commission President Ursula von der Leyen announced on Friday. The decision means the agreement will enter into force earlier than it should have, given the challenge to it in the European Court of Justice.
·Estonia
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Total News Sources219
Leaning Left29Leaning Right18Center36Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 35%
C 43%
R 22%
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