Free Trade
Merz expects provisional entry into force of Mercosur agreement
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Chancellor Friedrich Merz announced at the Deutsche Börse New Year's reception in Eschborn that the EU free trade agreement with Mercosur states will enter provisional force before the completion of an EuGH review. He views it as a path to greater European independence in an uncertain world order. The agreement was signed at the start of the year after more than 25 years of negotiations.
India is planning to reduce import duties on cars from the European Union to 40 percent from the current 110 percent as part of negotiations for a free trade agreement. This move could make luxury European vehicles more affordable in the Indian market. Brands like Volkswagen, Mercedes-Benz, and BMW stand to benefit significantly.
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Building on recent calls for delays from France and others, the EU has secured additional safeguard clauses for agriculture to advance the long-stalled free trade agreement with Mercosur. Brazil presses for swift approval ahead of the planned Saturday signing, as reservations persist among member states.