, Columnist
Global Europe Has a Trade Message for Trump
The EU’s deal with Mercosur is a riposte to Donald Trump and to Brexiters.
The EU is resisting his attempts to disrupt the rules-based order.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The trade deal between the European Union and four of Latin America’s biggest economies is a sharp riposte to both U.S. President Donald Trump and Britain’s Brexiters.
The agreement, reached on Friday after 20 years of negotiations, will end tariffs on 93% of Mercosur’s exports to the EU over time, with the rest getting “preferential treatment.” European companies – including those exporting cars and their parts, chemicals and textiles to Brazil, Argentina, Paraguay and Uruguay – would eventually save more than 4 billion euros ($4.5 billion) a year.