The European Commission’s intention to sign the trade agreement with South American nations on Saturday at Foz do Iguaň, a border town between Argentina and Paraguay, would probably be derailed by Italy’s reluctance to support the deal.
Trade between Argentina, Brazil, Paraguay, and Uruguay would be liberalized under the Mercosur trade agreement, which was reached by the European Commission in 2024. Ursula von der Leyen, the president of the Commission, had intended to sign it on December 20. However, it first requires the support of EU member states, which were scheduled to vote this week.
Given that France, Hungary, Poland, and Austria are against the agreement, Italy’s stance is crucial. Leading the opposition to the deal is France, which wants a reciprocity provision requiring Mercosur producers to adhere to EU production standards and more robust protections to protect farmers from unfair competition from Mercosur imports.
Belgium has stated it will abstain, but Ireland and the Netherlands have not formally stated their positions despite prior objections. To authorize von der Leyen to sign it, a qualified majority of 15 of 27 member states, or at least 65% of the EU’s population, must be present. This puts Italy in the limelight.
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