The Mercosur bloc is made up of Argentina, Brazil, Paraguay, and Uruguay. Although Brussels considers the agreement to be close to finalization, European farmers oppose it, fearing that cheaper products from South America will affect European agriculture and will not meet environmental standards. Supporters of the agreement, such as Germany and Spain, argue that it will revitalize the European economy, which has been affected by Chinese competition. The President of the European Commission, Ursula von der Leyen, hopes to sign the treaty in Paraguay, but she needs the approval of the member states, with a vote expected on Friday. Although France, Poland, Hungary, Ireland, and Austria oppose it, they will not be able to block the agreement. This would create a free trade area for over 700 million consumers, facilitating European exports and imports of products from South America.
Brussels has made concessions to appease farmers, but protests continue, and Macron considers the agreement unacceptable in its current form. Even after signing, the agreement will require ratification by the European Parliament, where opposition could influence the outcome.
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