trending Market Intelligence /marketintelligence/en/news-insights/trending/qzM9r76I2jamGGAVtUn6Lg2 content esgSubNav
In This List

Report: Mercosur, EU near deal signing on import tariff cuts

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022


Report: Mercosur, EU near deal signing on import tariff cuts

A deal between South America's Mercosur trade bloc and the European Union is near completion after two decades of talks on reduction of import tariffs, Bloomberg News reported, citing a South American diplomat involved in the talks.

The diplomat quoted a 70% likelihood of an agreement, noting that while serious obstacles remained unsettled, significant progress was made in the past week during talks in Brussels between the EU and Mercosur, which groups Brazil, Argentina, Uruguay and Paraguay.

"If Mercosur closes a deal of this magnitude with the EU, it'll be a game changer for economic recovery in Brazil and Argentina," said Matias Spektor, a professor of international relations at Brazil's FGV business school, according to the newswire.

While most parties remain determined to present an agreement before 2018, French President Emmanuel Macron appeared to be in no hurry as he informed a gathering in October that he was not in favor of rushing the negotiations, the newswire commented.