Mercosur Trade Deal in Jeopardy as EU Negotiations Intensify

The European Union’s attempts to seal a landmark free trade agreement with the South American Mercosur bloc are at a critical juncture, as Italy’s backing is crucial for its success. After nearly 25 years in negotiation, the deal has become the EU’s largest proposed trade pact in terms of tariff reductions. Germany, Spain, and Nordic countries are championing the agreement, highlighting its potential to boost exports affected by U.S. tariffs while reducing reliance on China for critical minerals. However, the proposed pact has drawn criticism, with opponents worried about a surge in cheap commodities, including beef, which could threaten European…