Timeworn Ruins Unveiled
The European Union (EU) is on the brink of a significant decision, as the final battle for the approval of the revised Mercosur agreement looms. The EU Commission has approved the deal, but it faces intense opposition from several member states, particularly France, Poland, and Austria.
The agreement has been split into two parts - trade, for which the EU is solely responsible, and political agreements. A qualified majority is sufficient to implement the trade part of the agreement, with Poland and Austria signaling they will drop their resistance. However, the focus of the revised deal remains on free trade, which critics argue carries significant risks.
European farmers fear unfair competition from cheap agricultural products from Mercosur, while concerns are being raised across all factions in the European Parliament about the implications of the agreement. Studies commissioned by the European Commission estimate a growth impulse of only 0.1 percent of gross domestic product from the Mercosur deal.
The most important Mercosur countries, Argentina and Brazil, have long since gone their own ways. Argentina under President Javier Milei is surprisingly loyal to US President Donald Trump, which could potentially complicate EU-Mercosur relations.
The dispute over the free trade agreement with the South American Mercosur countries has been ongoing for twenty years. Commission President Ursula von der Leyen is pushing for the Mercosur deal to be ratified quickly, with Chancellor Friedrich Merz supporting her efforts.
The EU Commission has made cosmetic changes to the Mercosur agreement, including the inclusion of the Paris Climate Agreement and the removal of controversial investment protection. However, the danger of further deforestation in the Amazon for beef exports to Europe remains a concern, as the hope that the EU will be politically strengthened through closer cooperation with Mercosur is overblown.
Recent protests in Mercosur countries could make approval difficult for the revised agreement. Critics have long recognized that free trade is not the answer in times of climate crisis and protectionism. The final approval of the revised EU-Mercosur free trade agreement promises to be a contentious issue, with many voices calling for careful consideration and a balanced approach.
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