The European Union and five Mercosur countries, including Brazil, Argentina, and Bolivia, reached a landmark trade agreement after 25 years of negotiations. If ratified, the deal will establish one of the world’s largest free trade zones, encompassing 20% of global GDP. Analysts highlight the strategic importance of lithium and other critical raw materials as key drivers of the agreement, given Europe’s reliance on these materials for renewable energy and electric vehicles. Opposition highlights concerns over agricultural competition, while supporters see the deal as crucial for securing supply chains and promoting sustainable trade.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02European Union and five Mercosur countries, including Brazil, Argentina and Bolivia,
00:06reached a landmark trade agreement after 25 years of negotiations.
00:10If ratified, the deal will establish one of the world's largest free trade zones,
00:14encompassing 20% of global GDP.
00:17Analysts highlight the strategic importance of lithium and other critical raw materials
00:22as key drivers of the agreement, giving Europe's reliance on these materials for
00:25renewable energy and electric vehicles.
00:27Opposition highlights concern over agricultural competition.