Why the EU-Mercosur Trade Deal Matters for Luxury

MILAN — Luxury industry concerns hit a peak this year after U.S. President Donald Trump announced his trade policy that involved a 15 percent tariff on all exports. Since then, leaders here have been banking on a reprieve that hinges on the swift approval of a crucial European Union deal with Mercosur, the South American bloc that includes Argentina, Brazil, Paraguay and Uruguay. This deal, for which talks commenced in 1999, could potentially create the world’s biggest free-trade area. Brazil, which is by ...