EU countries vote for trade agreement with South America

The European Commission and countries such as Germany and Spain believe the agreement will help offset business losses from US import tariffs and reduce dependence on China.

Opponents of the agreement, led by France, the EU’s largest agricultural producer, believe the agreement will lead to increased imports of cheap food products, including beef, poultry and sugar, which European farmers have opposed, Meduza reports, citing Reuters.

Negotiations on a trade agreement between the EU and Mercosur have continued for more than 25 years. The agreement should become the largest international treaty for both one and the other party. The European Union accounts for more than 20% of Mercosur countries’ exports.