EU’s Free Trade Agreement With South American Countries Blocked

The EU has been working on a trade agreement with the Mercosur countries; Brazil, Argentina, Paraguay, and Uruguay for over twenty years. The deal has hit roadblocks today after left-wing and protectionist parties in Austria voted to reject the deal, which would wipe away the EU’s tariffs. Anti-free trade Europeans voting to keep export tariffs as high as 35% for goods such as cars and clothing…

The EU is traditionally slow at signing FTAs because all 28 disparate member states must agree, and continental, more agricultural economies tend to be more protectionist than the likes of the traditionally free trading UK. Once the UK has left the EU it will have the freedom to unilaterally cut import tariffs, without the Austrians vetoing it…

Euro News

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