Group 1 - The European Commission has approved a free trade agreement with the Southern Common Market (Mercosur) countries to expand into the Latin American market and offset trade losses due to U.S. tariff policies [1][2] - The agreement, which has been in negotiation for over 20 years, aims to create a free trade area covering approximately 700 million people, with Mercosur committing to gradually eliminate tariffs on 91% of EU goods [1][2] - The EU estimates that if the agreement is implemented, annual exports to Mercosur could increase by up to €49 billion (approximately $57 billion) [1] Group 2 - The agreement requires approval from at least 15 of the 27 EU member states, representing over 65% of the population, as well as the European Parliament [2] - Some EU member states, particularly France and Poland, express concerns that the influx of cheap agricultural products from Mercosur could undermine local agriculture, prompting the EU to propose strong safeguard mechanisms [2] - The EU's support for the agreement is partly driven by the need to counteract trade losses caused by the current U.S. government's tariff policies [3]
欧盟委员会通过与南共市自贸协定 欲抵美国关税冲击
Xin Hua Wang·2025-09-04 09:05