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Merz tells France Mercosur trade deal must be ratified 'quickly' / Photo: Ludovic MARIN - POOL/AFP
NYSE - LSE
Merz tells France Mercosur trade deal must be ratified 'quickly'
Germany's new Chancellor Friedrich Merz said on Wednesday EU countries should "quickly" ratify a free trade deal with four South American nations that has met with staunch opposition from France.
Twenty-five years in the making, the deal to create a 700-million-customer free-trade area was clinched last December by the European Commission -- but still needs to be signed by member states and the EU parliament.
Germany, Spain, Portugal and others have welcomed the agreement, but France has said from the start that the deal was not acceptable in its current form.
EU officials hope US President Donald Trump's tariffs blitz could breathe new life into the Mercosur deal.
"The Mercosur deal should be ratified quickly and implemented," Merz said at a joint press conference with President Emmanuel Macron as he visited Paris on his first trip abroad.
France has so far slapped down suggestions it is warming to the agreement with Mercosur bloc members Argentina, Brazil, Paraguay and Uruguay.
Paris fears a flow of lower-cost agricultural goods outcompeting Europe's farmers.
To be approved, the deal must receive the backing of at least 15 of 27 EU states, representing a minimum of 65 percent of the population.
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X.Boucher--SMC
