Name: Mercosur trade pact down to the wire at EU summit
Uploaded: 2025-12-19T15:01:08.361Z
Duration: 2 min 19 s
Description: Brussels sees the trade deal with the South American regional trading bloc Mercosur as a chance to open new markets. But resistance to the deal from some EU members is massive.

Brussels sees the trade deal with the South American regional trading bloc Mercosur as a chance to open new markets. But resistance to the deal from some EU members is massive.

Brussels

The European Union and the Mercosur bloc, comprising Argentina, Brazil, Paraguay, and Uruguay, are on the verge of finalizing a trade agreement that has been under negotiation for 25 years. The deal is expected to reduce tariffs by 90 percent on both sides, potentially increasing trade volumes between the regions.

While the agreement promises economic benefits, such as cheaper South American agricultural imports for European consumers, it has faced opposition from several EU countries and environmental groups. Concerns include the impact on local farmers, environmental standards, and the protection of the Amazon rainforest. Despite these issues, the agreement is likely to be signed, making the EU Mercosur's second largest trade partner.

Mercosur trade pact down to the wire at EU summit

These cows might not care, but their prime cuts might soon become cheaper to European beef-eaters. It's economically significant, as beef, soy and other agricultural products are a major export for Argentina, Brazil, Paraguay and Uruguay. The EU in turn primarily exports machinery, chemical products and pharmaceuticals to the South American countries. In 2024, EU exports to the four Mercosur countries totaled 53.3 billion euros, whereas Mercosur exports to the EU added up to 57 billion, making the EU Mercosur's second largest trade partner. And trade volume is set to increase. The trade agreement between the two blocs is expected to see tariffs on both sides drop by 90 percent. But that's one reason for regular protests, especially on the European side. French farmers, for example, fear that agricultural products from South America will be cheaper in the EU than their own. Climate activists are demanding that the EU push harder for the protection of the Amazon rainforest. And environmentalists complain that the standards in the Mercosur countries, including those on the use of pesticides and plastics, do not meet European standards. The Commission itself estimates that the agreement is only going to lead to a 0.05 percent increase in EU GDP by 2040. So we really encourage MEPs to prioritize the costs for society, the costs for nature, the costs for the climate and for people's health, instead of those extremely, extremely limited economic impacts. Proponents of the agreement, however, argue that it's extremely important, especially in these current times. When we have problems doing business in one part of the world, the US now, then we have to open business in other parts of the world. Even though Ireland, Poland and Hungary, in addition to France, are opposed to the free trade agreement, it is highly likely that the EU and the Mercosur countries will finally sign their agreement after 25 years of negotiation.

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