The EU on Wednesday moved a step closer to sealing the world’s largest free-trade zone, giving final approval to its long-delayed pact with South America’s Mercosur bloc while assuring ‘robust’ protections…

The EU on Wednesday moved a step closer to sealing the world’s largest free-trade zone, giving final approval to its long-delayed pact with South America’s Mercosur bloc while assuring ‘robust’ protections for farmers to win over a skeptical France. The pact, set to create the world’s largest 700-million-strong trade area, is key to Brussels’ push to diversify markets.

    • eigenspace@feddit.orgEnglish
      2·
      3 days ago

      From the article

      For example, only a quota of beef imports from Mercosur, equal to 1.5 percent of EU production, will be subject to a preferential 7.5-percent levy. […] Additional imports will face tariffs of up to 50 percent, he added.

      This may drive more demand for meat production South America, but those quotas will limit that impact by quite a bit.

    • Mihies@programming.devEnglish
      1·
      3 days ago

      Not necessarily if they have problems selling to the US and instead sell them to EU. But yes, some sort of safeguard in there would be great.