EU-MERCOSUR Trade Agreement: A Preliminary Analysis

EU-MERCOSUR Trade Agreement: A Preliminary Analysis On June 28, 2019, the European Union became the first major partner to strike a trade agreement with the Southern Common Market (or MERCOSUR) countries of Argentina, Brazil, Paraguay, and Uruguay. The landmark agreement, which the EU Parliament and Commission have yet to ratify, covers a market of 780 million people and encompasses 25 percent of world GDP, making it one of the largest free trade areas in the world. The agreement will eliminate 93 percent of tariffs for MERCOSUR exports to the EU, while offering preferential treatment for the remaining 7 percent. Similarly, the agreement removes tariffs or creates tariff-rate quotas (TRQs) for key EU agricultural exports to MERCOSUR. In addition, the agreement provides protection for upwards of 350 geographical indications (GIs), recognizes the principle of regionalization, and adopts language on EU food safety and health standards, including the "precautionary principle." Please click here to read more >>   Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by USDA Foreign Agricultural Service. This email was sent to stevenmagallanes520.nims@blogger.com using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250