EU races to win over Italy on Mercosur trade deal, says EU lawmaker

STRASBOURG, Dec 16 – Germany and the EU executive have been making a last-ditch attempt to convince Italy to back a free trade agreement with South American bloc Mercosur, which will falter if not signed ?soon, a ?leading EU lawmaker said on Tuesday. Some 25 years in the making, ?a trade pact with Mercosur would be the EU’s largest in terms of tariff cuts. Germany, Spain and Nordic countries say ?it will ?help exports hit by U.S. tariffs and reduce dependence on China by providing access to minerals. But critics fear cheap commodities flooding the market, including beef to the…