The European Commission has presented its largest-ever trade deal with South America's Mercosur bloc, aiming to offset U.S. tariffs and reduce reliance on China, but facing strong opposition from France, farmers, and green groups.
00:00The European Commission has formally presented its trade deal with South America's Minoceros bloc for approval
00:06in hopes to offset losses from U.S. President Donald Trump's tariffs and reduce reliance on China.
00:13However, the deal faces strong opposition from European farmers and several key EU countries, raising questions over its approval.
00:21France, Italy and Poland have voiced concerns that the deal could flood the market with cheap agricultural products that do not meet EU green and food safety standards.
00:34France in particular has said it will only approve the agreement if it safeguards national and EU agricultural interests.
00:42Together, the three countries could block the deal.
00:44Proponents of the deal, including Germany and Spain, argue the deal could save EU exporters €4 billion annually,
00:52open markets for cars, machinery and chemicals, and secure duty-free trade in critical minerals like lithium needed for the green transition.
01:01The agreement involving Argentina, Brazil, Paraguay and Uruguay was finalized last December after 25 years of negotiations.
01:10It would eliminate import duties on 91 years.
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