Analysis: Twenty years on, EU turns cold on Mercosur trade deal

The doubts are amplified by a new EU trade strategy, unveiled in February, that says would-be partners of the world’s richest trade bloc should uphold standards on the environment and labor rights.

RIO DE JANEIRO, BRAZIL - As the European Union looks forward to a fresh start with the United States under a new president, it is riddled with doubts over another transatlantic relationship.

A trade pact, struck in 2019 with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay after two decades of talks, promised to be the EU’s largest deal, with the removal of 4 billion euros (US$4.8 billion) of import tariffs on its products.

But two years later, it is unclear when - or whether - it will enter in force, due to Europe’s concerns over Amazon deforestation . . .

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