All articles tagged with #trade agreement
European leaders clinched a compromise to implement the Turnberry trade pact with the United States, after hours of talks, setting up a final vote in the European Parliament for mid-June. The deal lowers some EU tariffs on U.S. goods while keeping most U.S. tariffs on European exports capped at 15%, a step many leaders herald as stabilizing transatlantic trade, though some lawmakers remain cautious about the terms and U.S. acceptance.
The EU and Mercosur signed a historic free-trade pact after 25 years of talks, phasing out most tariffs and expanding market access, but ratification by the European Parliament and national legislatures remains uncertain amid farm-lobby opposition and political concessions, including €45 billion in EU farmer support.
EU member states have broadly approved a historic free trade agreement with Mercosur, the South American trade bloc, pending European Parliament approval, marking the EU's largest trade deal to date.
EU member states have approved the Mercosur free trade deal with South American countries, pending European Parliament approval, despite some countries like France opposing it. The agreement aims to reduce tariffs, boost exports, and strengthen trade relations, with support from Germany and other nations, while facing resistance from farmers and some political leaders.
The EU has approved a historic trade deal with Mercosur, creating one of the world's largest free trade areas, despite opposition from some member states and protests from farmers. The deal aims to boost exports, reduce dependency on China, and strengthen geopolitical ties, with signing expected soon in Paraguay.
Italy is expected to support the EU-Mercosur free-trade agreement in a vote on January 9, 2026, paving the way for the EU to sign the deal with South American countries, which would create a large market, reduce tariffs, and enhance Europe's global economic influence, despite opposition from France and concerns over agricultural protections.
The White House remains optimistic about U.S.-China trade relations despite the October deal's text being unavailable, with signs of ongoing negotiations and some discrepancies in trade commitments, particularly regarding soybean purchases, highlighting the informal nature of the agreement and ongoing tensions.
Canada has appointed former BlackRock executive Mark Wiseman as its new ambassador to the US, a key role during ongoing negotiations over the US-Canada trade relationship, including the review of the USMCA agreement. Wiseman's extensive experience in finance and previous connections to Canadian leadership position him to help navigate critical trade and diplomatic issues between the two countries.
India and New Zealand have announced a free trade agreement that will make the majority of goods traded between the two countries duty-free, with nearly 57% of New Zealand's exports becoming duty-free in India from day one, and a $20 billion investment from New Zealand in India over 15 years, aiming to boost trade, investment, and mobility of professionals and students.
Europe faces setbacks in its efforts to sign the Mercosur trade deal, highlighting its struggle to assert independence from US and China influence amid ongoing geopolitical and economic tensions.
The EU-Mercosur trade deal, finalized after 25 years, faces potential delays or collapse due to opposition from France, Italy, and other EU countries, amid protests and concerns from farmers. German Chancellor Merz advocates for ratification, while French and Italian leaders express reservations, citing agricultural protections. Brazilian President Lula warns that if the deal isn't finalized soon, Brazil won't renegotiate during his tenure, emphasizing the geopolitical importance of the agreement. The deal aims to boost trade between the EU and Latin America but is hindered by internal political disagreements.
German Chancellor Friedrich Merz expressed frustration over the delays in concluding the Mercosur trade agreement, emphasizing the importance of finalizing major trade deals for the EU's global economic strategy amid ongoing negotiations and a critical EU summit on Ukraine.
The UK and US have reached a deal to keep tariffs on UK pharmaceutical exports to the US at zero for three years, while the UK will increase NHS drug spending and adjust pricing thresholds, aiming to boost trade, investment, and the UK’s position in global life sciences, amidst ongoing tensions over drug costs and investments.
China will suspend some export controls on rare earth metals and halt investigations into US chip firms as part of a trade deal with the US, which also includes halving tariffs on fentanyl and resuming agricultural purchases, aiming to ease tensions between the two countries.
China will suspend some export controls on rare earth metals and end investigations into US semiconductor firms, while the US will pause tariffs on China for a year and halt plans for a 100% export tariff, in a trade deal aimed at easing tensions between the two countries, though the agreement may be a short-term truce.