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Historic Trade Deal Is A Letdown For South American Farmers

From: bloomberg.com

The vaunted historic free-trade deal struck with Europe was greeted with fanfare by South America’s leaders. But it turns out the impact for agriculture, thought to be one of the biggest benefactors, may end up being limited after all.

Agriculture was a tough issue for negotiators over 20 years of free trade talks between the European Union and the four Mercosur members — Brazil, Argentina, Paraguay and Uruguay. In the end, the accord means the South American block will remove tariffs on products that correspond to 95% of agricultural shipments from Europe, which will do the same on 82% of Mercosur supplies.

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