After 20 years of trying, the European Union on Friday finally
reeled in its biggest trade deal by striking an accord with the South
American Mercosur bloc.
The political deal will give the European Commission something to
brag about at the summit of G20 leading economies in Osaka, where the
EU’s free-trade agenda is finding itself increasingly isolated in the
face of U.S. protectionism and Russian President Vladimir Putin’s assertions that liberalism has had its day.
Indeed, only moments after the deal was struck, European Commission President Jean-Claude Juncker said in a statement that it
was a “historical moment” precisely because of the fevered global
debate. “In the midst of international trade tensions, we are sending
today a strong signal with our Mercosur partners that we stand for
rules-based trade,” he said..
No comments:
Post a Comment