EU-Mercosur mega trade deal: The winners and losers
politico.eu••world
Key Points:
- After 25 years of negotiations, the EU has approved its largest-ever trade deal with the Mercosur bloc, creating a free trade area covering over 700 million people across Europe and Latin America, pending European Parliament approval.
- The agreement will eliminate over 90% of tariffs on EU exports, benefiting sectors like German automotive and allowing European consumers access to Latin American products such as Argentinian beef.
- Italian Prime Minister Giorgia Meloni secured last-minute concessions for Italian farmers, including market safeguards and additional EU agricultural funding, while the EU committed €45 billion in subsidies to support its farmers.
- French President Emmanuel Macron opposed the deal due to domestic political pressure and concerns from French farmers, but the deal passed despite opposition from France
