The EU will 'provisionally implement' a trade deal with South American bloc Mercosur
ABC News
European Commission President Ursula von der Leyen says she will start to “provisionally implement” a massive trade deal with the Mercosur bloc of nations in South America despite not having approval from European Parliament
BRUSSELS -- European Commission President Ursula von der Leyen said on Friday that she will start to “provisionally implement” a massive trade deal with the Mercosur bloc of nations in South America despite not having approval from European Parliament.
“When they are ready, we are ready,” von der Leyen said. With backing from Europe leaders, she said she the Commission will “provisionally apply the agreement” after Uruguay and Argentina ratified the EU-Mercosur trade deal on Thursday.
The deal has been negotiated for a quarter century among countries that are now home to more than 700 million people and account for a quarter of global gross domestic product, creating one of the world’s largest free trade zones.
It follows global trade shocks from the tariffs imposed by the United States and throttling of critical mineral supplies for China that pushed the 27-nation EU to forge a raft of free trade deals with other nations across the world.
However, the deal has faced vehement opposition from Europe’s agriculture sector and was expected to face tough questions by elected representatives in European Parliament.
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