Name: All eyes on Italy as Mercosur deal hangs in the balance
Uploaded: 2025-12-16T15:41:52.323Z
Duration: 43 s
Description: Rome is torn between protecting farmers and maintaining exports to Mercosur countries. But supporters of the Mercosur agreement fear its silence signals Italy may not be on board.

Rome is torn between protecting farmers and maintaining exports to Mercosur countries. But supporters of the Mercosur agreement fear its silence signals Italy may not be on board.

Rome

The Mercosur trade bloc, consisting of Argentina, Brazil, Paraguay, and Uruguay, is negotiating a major agreement with the European Union. If finalized, the deal would establish a market of 780 million consumers, accounting for a quarter of global trade.

Currently, European exports to Mercosur countries face high tariffs, with rates as high as 35% on cars and wine, and 28% on cheese. The agreement aims to eliminate or significantly reduce these tariffs, making European goods more competitive in South American markets.

All eyes on Italy as Mercosur deal hangs in the balance

Mercosur is a South American trade bloc comprised of Argentina, Brazil, Paraguay and Uruguay. The agreement with the EU will create a market of 780 million consumers, representing 25% of world trade. Many European products now pay high export tariffs to the Mercosur bloc, such as cars – 35%, wine and spirits – up to 35%, cheese – 28%, machinery – up to 20%. With the deal, those tariffs will be eliminated or significantly reduced.

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