EU/Mercosur trade deal faces problems

CGTN Europe

EU chief Ursula von der Leyen insists the controversial new Mercosur deal is a win-win for all concerned. She said there are safeguards in place for European farmers. Next stop is the European parliament and individual member states to endorse the agreement.

Transcript

00:00It's a trade deal that's been roughly 25 years in the works,

00:04with Commission President Ursula von der Leyen describing it

00:08as a historic milestone.

00:10She adds that it's both an economic opportunity

00:13as well as a political necessity.

00:16The EU claim it will open markets up

00:18to more than 700 million people and save EU businesses

00:22roughly $4.2 billion per year in export duties.

00:27But there remain major critics to this trade plan,

00:31chiefly among them France, citing environmental concerns

00:35as well as the potential impact this trade agreement could

00:38have on domestic farmers.

00:40Ursula von der Leyen, though, says

00:42it's a win-win for both the EU and Mercosur,

00:45adding that safeguards are in place for EU domestic farmers.

00:50It's now up to the European Parliament as well as EU member

00:53states to endorse this trade arrangement.

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