Many of the world’s biggest economies are scrambling to finalize long-awaited free trade deals.
China’s foreign minister urged Gulf countries Monday to seal an agreement after decades of negotiations. EU leaders this week are also hoping to close the landmark Mercosur pact with several South American countries that has been 25 years in the making, but member states are divided on whether to sign off. At the same time, Brussels is racing to strike a deal with India after a challenging, yearslong effort.
The end-of-year hustle reflects US President Donald Trump’s upending of the global trade landscape, and the desire in Europe to diversify partnerships and “open markets abroad… all against a tightening geopolitical clock,” Euractiv wrote.