After 25 years of negotiations, the highly contentious European Union-Mercosur trade deal has officially been announced.
European Commission President Ursula Von Der Leyen joined South American leaders this morning from Uruguay’s capital city to share the news. The landmark deal will create one of the world’s largest free trade agreements.
“This agreement was designed with your interests at heart. It is made to work for you. It means more jobs, and good jobs; more choices, and better prices. The European Union and Mercosur created one of the largest trade and investment partnerships the world has ever seen. We’re taking barriers down and we are allowing investment in. We are forming a market of more than 700 million consumers, and this partnership will strengthen entire value chains. It will develop strategic industries. It will support innovation, and it will create jobs and values on both sides of the Atlantic.”
However, the deal faced criticism from European farmers who argue the agreement will threaten their livelihoods.
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