The European Union is moving ahead with a disputed trade agreement with four South American countries after 25 years of negotiations. The deal would eliminate billions in trade duties but faces strong opposition from agricultural groups concerned about cheap imports.
BRUSSELS – European Commission President Ursula von der Leyen announced Friday that the European Union will move forward with implementing a disputed trade agreement with four South American nations, despite ongoing controversy surrounding the deal.
The trade pact represents the EU’s most significant agreement in terms of duty reductions, involving Argentina, Brazil, Paraguay and Uruguay through the Mercosur trading bloc. Negotiations for this landmark deal spanned a quarter-century before reaching completion.
According to EU officials, the agreement will eliminate approximately 4 billion euros worth of tariffs on European exports, equivalent to about $4.7 billion.
Nations including Germany and Spain are championing the agreement, arguing it’s crucial for compensating for commercial losses caused by American tariffs while decreasing dependence on China for essential raw materials.
However, significant resistance comes from France, which leads the EU in agricultural production. French officials and farming groups argue the agreement will flood European markets with inexpensive beef, sugar, and poultry from South America, creating unfair competition for local farmers who have organized multiple demonstrations against the proposal.
Von der Leyen emphasized that provisional implementation would give the European bloc an important competitive edge in the region.
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