EU postpones huge free-trade deal with South American bloc
Fred Scheiber/AP
The European Union is postponing a major free-trade agreement with South American countries due to intense protests from farmers and last-minute opposition from France and Italy, according to the European Commission.
Top EU officials had hoped to sign the EU-Mercosur in Brazil this weekend, after more than 25 years of negotiations, News.Az reports, citing foreign media.
Instead Commission chief spokesperson Paula Pinho confirmed that the signature had been put off until January.
Experts say the delay will dent the EU’s negotiating credibility globally as it seeks to forge new trade ties amid commercial tensions with the US and China.
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