· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: European farmers are protesting the EU-Mercosur trade deal, fearing they cannot compete with South America's less regulated and cheaper agricultural products like beef and poultry
• The agreement, in negotiation since 1999, aims to create a major free trade zone but faces opposition over environmental and market concerns
• Protests have reignited as talks progress toward final approval
🔭 The context: The EU-Mercosur pact seeks to lower tariffs, benefiting EU industries like cars and chemicals while giving Mercosur countries better access for agricultural exports
• France, leading the opposition, demands stricter environmental and labor safeguards
• Proponents like Germany and Brazil argue the deal boosts economic ties and trade diversification
🌍 Why it matters for the planet: Environmental groups warn the deal could fuel Amazon deforestation and increase pesticide use, undermining EU climate commitments
• The lack of stringent agricultural regulations in South America adds to sustainability concerns
⏭️ What's next: A December Mercosur summit may finalize the deal, but EU ratification remains contentious, especially with France potentially leveraging national parliaments to veto it
• The EU Commission is considering splitting the deal to reduce approval barriers
💬 One quote: “France would not sign the deal as is,” - French President Emmanuel Macron, highlighting environmental and labor concerns
📈 One stat: The agreement allows 99,000 tonnes of beef to face a reduced tariff of 7.5%, representing less than 2% of EU annual beef consumption
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