Overview
- The European Commission approved a legally vetted text and sent it to EU governments and the European Parliament, with Ursula von der Leyen calling the step a milestone.
- Brussels targets getting the trade provisions in force by year‑end as part of a push to create one of the world’s largest free‑trade zones.
- To address farm-sector fears, the package includes import quotas, safeguard clauses and a proposed €6.3 billion crisis fund for market shocks.
- France and Poland signaled openness after seeking enforceable protections, improving the chances of Council approval by qualified majority.
- The agreement would remove tariffs on about 91% of goods, reduce Mercosur’s 35% car duty, and could raise EU exports to South America by up to 39%.