The EU provisionally approved a trade deal with the South American Mercosur bloc to create the world’s largest free trade zone after 25 years of negotiations marked by deep divisions within the EU’s member states.
A “cars for cows” agreement favoring EU industrial goods and LatAm farm products, Mercosur’s champions argued the deal secures EU access to Brazil and Argentina’s critical minerals, reducing dependence on China and proving Europe can overcome disagreements to act decisively.
The agreement, set to be signed next week, overcomes intense opposition from European farmers, and demonstrates that Europe’s efforts to extend economic collaboration stand in stark contrast to the US’ approach of “coercion over cooperation,” The New York Times wrote.