Ursula von der Leyen, the European Commission president, has taken a political risk in signing off an agreement with Latin American countries
Anticipating the strong protectionist winds that will blow from Donald Trump’s White House, the president of the European Commission, Ursula von der Leyen, has been responding by making her own economic weather. Last week, Ms von der Leyen flew to Montevideo, 5,000 miles south of Washington DC, to controversially conclude negotiations in one of the biggest free trade agreements in history. Twenty-five years in the making, the Mercosur trade deal opens up trade between the EU and a Latin American bloc of partners comprising Argentina, Brazil, Paraguay and Uruguay.
In theory, the agreement promises a more open market of 700 million people for products ranging from Argentine beef to German cars. For European manufacturers, it would eliminate tariffs on a majority of goods. As Mr Trump threatens to impose heavy tariffs on Chinese and European exports, here was evidence, asserted Ms von der Leyen, “that openness and cooperation are the true engines of progress and prosperity”.
Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here.
Continue reading…
Source link : https://www.theguardian.com/commentisfree/2024/dec/10/the-guardian-view-on-the-eu-mercosur-trade-deal-another-farmer-flashpoint-approaches
Author : Editorial
Publish date : 2024-12-10 18:40:02
Copyright for syndicated content belongs to the linked Source.
