"A lot of work went into getting this landmark deal over the line; now it's time to invest the same effort into making sure our citizens and businesses reap its benefits immediately. From day one, tariffs are reduced and new market opportunities are opened."
"The agreement favours European exports of cars, wine and cheese, while making it easier for South American beef, poultry, sugar, rice, honey and soybeans to enter Europe."
The EU's trade deal with Mercosur, one of the largest free-trade agreements, begins provisionally despite a pending court ruling. The deal, finalized after 25 years of negotiations, eliminates tariffs on over 90% of trade. France opposes the agreement due to concerns for its farmers, while most EU countries support it to diversify trade. The deal favors European exports and eases South American agricultural products' entry into Europe. EU leaders will discuss the deal's implementation with Mercosur nations, which represent a significant portion of global GDP and consumers.
Read at www.thelocal.com
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