The European Union and Mercosur trade bloc have concluded negotiations for their free trade agreement, despite disagreement throughout the European Union (EU).
The agreement took more than 20 years of negotiations to find a compromise but has left many unhappy with the result.
While it comes at a time when Europe needs an economic boost, the deal requires agreement from all 27 EU member countries.
Heavily dependant agricultural sectors in countries such as Spain have already begun protesting the agreement, saying that farmers across the board will suffer in order to support other sectors.
José Manuel Roche, Secretary for International Relations for the Union of Small Farmers in Spain noted that the agreement could seriously damage industries such as beef, pork and rice. Meanwhile, French farmers’ union FNSEA has called on the country’s President to commit to building a blocking majority in the EU to overturn the deal.
However, European Commission President Ursula von der Leyen said: “This is a win-win agreement, which will bring meaningful benefits to consumers and businesses, on both sides.” She claims the agreement will will save EU businesses €4 billion a year in export duties.
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