EU-Mercosur trade pact could be ratified by end of 2025!
Luxembourg, Apr 7 (EFE).—
Spain’s commerce minister said Monday that the EU-Mercosur trade pact could be ratified before the end of 2025, urging fellow member states to seize the moment amid rising US tariffs that threaten key European exports.
Minister Carlos Cuerpo said the new US tariffs might serve as a needed push for the long-delayed trade agreement between the European Union and South America.
“We believe the commission should place the ratification proposal on the table before the summer break, so that by year-end, the agreement is, hopefully, already ratified,” Cuerpo said upon arriving at the EU Trade Ministers’ meeting in Luxembourg.
He said Washington’s recent tariff measures, which impact key Spanish exports, should be a wake-up call for Europe.
“The situation should act as a spur for everyone to realize we must move quickly on Mercosur,” he said.
Tariffs Hit Spanish Wine and Olive Oil
Cuerpo warned that Spanish wine and olive oil producers, two sectors vulnerable to US tariffs, stand to gain significantly from a finalized EU-Mercosur pact.
“For these sectors, opening a market like Mercosur could boost exports by 40 to 50 percent,” he said, underlining the need for urgency.
Strategic Trade Push
Cuerpo stressed the importance of reinforcing strategic trade ties, arguing that Europe must continue pursuing agreements with global partners.
“In this case, it is crucial to reaffirm our commitment to the Mercosur agreement in the short term,” he said.
However, resistance remains. Countries like France and Poland have voiced opposition or skepticism about ratifying the deal, citing environmental and agricultural concerns.
The EU-Mercosur agreement, negotiated over two decades, aims to create one of the world’s largest free trade areas, covering goods, services, investment, and sustainable development commitments. EFE
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