BRUSSELS - The European Union and South American bloc Mercosur agreed a free-trade treaty on Friday, concluding two decades of talks and committing to more open markets in the face of a rising tide of protectionism.
As world leaders meet at a G20 summit in Japan, EU Trade Commissioner Cecilia Malmstrom told a news conference the deal sent a “loud and clear message” in support of open trade. The opening to Europe also offers more avenues for development in South America, which has been tugged in recent years between the ascent of top trading partner China and enduring U.S. influence in the region.
Argentine Treasury Minister Nicolas Dujovne said the deal had “enormous potential to increase investments fundamental to sustained growth.” Brazil said the agreement would eliminate import tariffs for several farm products, including orange juice, instant coffee and fruit. It will also get a new 99,000-tonne quota of beef at a 7.5% tariff, phased in over five years, along with tariff-free 180,000 tonne quotas each of sugar and of poultry.
The agreement still faces challenges before it can enter force. The deal still needs final approval from Mercosur, the European Parliament and their constituent countries, which Brazil’s government conceded could take years.France is one of the European countries expressing concerns about a surge in beef imports, while environmental groups, whose influence is stronger in the new European Parliament, argue that the agreement could exacerbate deforestation.
EUinIsrael World Best Leaders 💪💪💪
What a telling photo where men in suits are trying to push a woman with more intelligence that all of them combined to the back.
MartinSelmayr Ist der Titel nicht ein wenig tendenzioes
EuNaoConfioNoMoro BolsonaroVergonhaInternacional
BolsonaroVergonhaInternacional sergiomalandro
BolsonaroEnvergonhaOBrasil
Does Merkel wear the same outfit every time?
France, Great Britain and Germany created the Instex mechanism for trade with Iran. The task of this financial mechanism of foreign trade settlements is to protect participants in transactions with Iran from US sanctions.
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Awkward
That one girl in mechanical engineering batch.
THIS PERSON OF FINANCIAL INSTABILITY TO THE WORLD
Don't expect us to come and bail you out, one nor all.
Esse é verdadeiro Brasil que elegeu jairbolsonaro This is the true Brasil that voted in jairbolsonaro
China halts Canadian meat exports over fake certificate
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