• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
EU-Signs-Trade-Agreement-with-South-American-Economies,-Aims-to-Strengthen-Economic-Ties

EU Signs Trade Agreement with South American Economies, Aims to Strengthen Economic Ties

12/06/2024
Aerial view of a busy container port, illustrating global trade and the impact of US tariff policy shifts. - Supply Chain News

US Tariff Policy Undergoes Shifts, Creating Uncertainty in Global Trade

08/14/2025
US Pharmaceutical Tariffs Expected in Coming Weeks as Review Nears Completion

US Pharmaceutical Tariffs Expected in Coming Weeks as Review Nears Completion

08/14/2025
US Inflation Rises in July as Tariffs Influence Consumer Costs

US Inflation Rises in July as Tariffs Influence Consumer Costs

08/14/2025
India’s Manufacturing Sector Faces Pressure Amid Proposed 50% US Tariff Increase

India’s Manufacturing Sector Faces Pressure Amid Proposed 50% US Tariff Increase

08/14/2025
Brazil Unveils Comprehensive Support Package for Exporters Affected by US Tariffs

Brazil Unveils Comprehensive Support Package for Exporters Affected by US Tariffs

08/14/2025
Mexicom Group Launches Free U.S.–Mexico–Canada Tariff Lookup Tool

Mexicom Group Launches Free U.S.–Mexico–Canada Tariff Lookup Tool

08/14/2025
Export Barbados Launches Free Global Tariffs & Rules Lookup Tool

Export Barbados Launches Free Global Tariffs & Rules Lookup Tool

08/14/2025
Rampant Industries India Private Limited Launches Free Global Tariff & Rules Lookup Tool

Rampant Industries India Private Limited Launches Free Global Tariff & Rules Lookup Tool

08/13/2025
Invest Guatemala Launches Free Global Tariffs & Rules Lookup Tool

Invest Guatemala Launches Free Global Tariffs & Rules Lookup Tool

08/13/2025
Stocks Reach New Highs as Tariff Effects Remain Limited in Short Term

Stocks Reach New Highs as Tariff Effects Remain Limited in Short Term

08/13/2025
Inflation Edges Higher in July as Tariffs Influence Prices

Inflation Edges Higher in July as Tariffs Influence Prices

08/13/2025
Food Prices Stay High in July; Tariffs May Add Further Pressure

Food Prices Stay High in July; Tariffs May Add Further Pressure

08/13/2025
supplychainreport
Saturday, August 16, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

EU Signs Trade Agreement with South American Economies, Aims to Strengthen Economic Ties

by Giezel Garcia
12/06/2024
in Trade Agreements

The European Union has signed a trade agreement with four of South America’s largest economies, aiming to strengthen economic ties between the two regions. European Commission President Ursula von der Leyen described the deal as a “historic milestone” in a time of increasing global trade challenges.

The deal comes after a previous agreement in 2019 failed to take effect due to lack of ratification by all EU member states. If ratified by EU states, the new agreement would lower tariffs, simplify customs procedures, and provide the EU with easier access to raw materials from the South American bloc, which includes Argentina, Brazil, Paraguay, and Uruguay.

YOU MAY ALSO LIKE

Mexicom Group Launches Free U.S.–Mexico–Canada Tariff Lookup Tool

Export Barbados Launches Free Global Tariffs & Rules Lookup Tool

Von der Leyen emphasized that the deal could benefit European citizens by creating more jobs, offering greater product choices, and potentially leading to lower prices. Last year, Europe exported almost $59 billion worth of goods to these countries, including cars, machinery, chemicals, and pharmaceuticals. In return, South America exported nearly $57 billion worth of goods to Europe, with key exports including minerals like lithium and nickel, which are essential for electric vehicle batteries.

The agreement is seen as an opportunity to increase exports and strengthen trade relations, particularly as tensions rise with other global trade partners such as the US and China. The EU also noted that around 60,000 EU companies, half of them small businesses, are already exporting to the Mercosur countries.

The negotiations, which began in 2000, had faced hurdles due to concerns over environmental issues, including deforestation and sustainable farming practices. These concerns were addressed with changes in the governments of Brazil and Argentina. However, Uruguay’s President Luis Lacalle Pou, who hosted the final talks, acknowledged that challenges remain before the deal can be implemented.

The trade policy is negotiated by the European Commission, not individual EU member states, but some countries, including France, Italy, and Poland, have raised concerns. Farmers in these countries fear unfair competition from South American producers, who are subject to less stringent regulations. France’s trade minister, Sophie Primas, stated that the political conclusion of the negotiation in Montevideo does not bind the member states and indicated that France would continue to oppose the deal.

Germany, which has faced economic challenges, expressed strong support for the deal, viewing it as an important opportunity to boost trade. A spokesperson for the German government emphasized the importance of seizing the opportunity, noting that efforts are underway to address concerns raised by France and other EU member states.

Stay current with supply chain news on The Supply Chain Report. Free trade resources are available at ADAMftd.com.

#EUSouthAmericaTrade#TradeAgreement#EconomicPartnership#GlobalTrade#SupplyChainDiplomacy#InternationalMarkets#EconomicCooperation




ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.