EU Eyes Fast-Track for Mercosur Deal Amid Legal Hurdles

The European Union is preparing to implement its free trade agreement with the South American Mercosur bloc, despite facing opposition and legal challenges. EU trade chief Maros Sefcovic indicated the bloc might act soon, awaiting ratification from Mercosur partners.

The deal, involving countries such as Argentina, Brazil, Paraguay, and Uruguay, aims to cut about 4 billion euros in duties on EU exports, making it potentially the bloc's largest free trade agreement by tariff reduction. While it has strong backing from Germany and Spain, France leads the resistance due to concerns about cheap commodity imports harming local farmers.

The European Parliament's legal challenge could delay the agreement for two years, but the European Commission may apply it provisionally sooner. Sefcovic suggests that once Mercosur is ready with ratifications, the EU will be prepared to proceed swiftly.