US EditionPublished • loading... • Updated
European Commission to Provisionally Apply Mercosur Trade Deal After Mercosur Ratifications
The EU will provisionally apply the trade agreement with Mercosur after Argentina and Uruguay ratified it, creating a free trade zone covering 700 million people and 30% of global GDP.
- 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.
Insights by Ground AI
189 Articles
189 Articles
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
Read Full Article
The pact may be considered fully concluded only when the European Parliament gives its consent.
The trade agreement will be implemented even before final approval by the European Parliament.
Brussels is implementing the Mercosur Pact against the will of France, a juridical trick with far-reaching consequences.
·Zürich, Switzerland
Read Full Article
Germany welcomed the European Commission's announcement that it would provisionally apply a trade agreement between the EU and South America's Mercosur, while France said it was unpleasantly surprised by the decision.
Coverage Details
Total News Sources189
Leaning Left26Leaning Right18Center33Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 34%
C 43%
R 23%
Factuality
To view factuality data please Upgrade to Premium
