The European Union expects to save €4 billion in tariffs with Mercosur per year.
The free trade agreement between the European Union and Mercosur was concluded in December 2024 and is now in the legal review and translation phase.
ANSA - The European Union said on Thursday (13) that the free trade agreement with Mercosur, concluded in early December 2024 and now undergoing legal review and translation, will provide savings of more than 4 billion euros (R$ 24 billion) for exporters in the bloc.
The figure was released by EU Trade Commissioner Maros Sefcovic during a debate in the European Parliament on the treaty, which is facing resistance from European farmers.
"The agreement represents an economic advantage for the European Union and especially helps EU exporters save more than 4 billion euros in customs duties each year," said Sefcovic, citing the example of automobiles, which currently pay a 35% tax to enter Mercosur.
The commissioner also assured that Brussels will "closely monitor" the effects of the agreement on the European market, "especially with regard to the competitiveness of farmers." "In case of imbalances, safeguard measures will be imposed to protect our sensitive sectors and ensure that agricultural producers are fully protected," he stressed.
The European Commission, the bloc's executive branch, intends to create a reserve of at least 1 billion euros (R$ 6 billion) to compensate farmers for any potential negative impacts.
