EU delays massive free-trade deal with South American bloc Mercosur, European Commission says
BRUSSELS: (Dec 19) (AP) The European Union is delaying a massive free-trade deal with South American countries after fiery protests by farmers and last-minute opposition by France and Italy, the European Commission said Thursday.
Top EU officials had hoped to sign the EU-Mercosur in Brazil this weekend, after more than 25 years of negotiations. Instead Commission chief spokesperson Paula Pinho confirmed that the signature had been put off until January.
Experts say the delay will dent the EU’s negotiating credibility globally as it seeks to forge new trade ties amid commercial tensions with the US and China.
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