EU Races to Win Over Italy on Mercosur Trade Deal, Says EU Lawmaker

By Philip Blenkinsop STRASBOURG, Dec 16 (Reuters) – 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,…