EU Eyes Mercosur Trade Deal Amid U.S. Tariff Woes

The European Union sees a trade agreement with Latin America's Mercosur as a significant opportunity, especially after new U.S. tariffs increase economic uncertainties. The EU is committed to finalizing the deal, as highlighted in recent discussions involving France and other EU countries focused on diversifying trade partnerships.

The European Union is considering a strategic trade agreement with Latin America's Mercosur bloc, viewing it as a 'massive opportunity' amidst the economic uncertainties created by U.S. President Donald Trump's new round of tariffs, according to an EU spokesperson on Friday.

The spokesperson highlighted the importance of investing significant time and effort alongside member states to bring the deal to fruition. The statement reflects the EU's intent to secure stable economic relations beyond the current challenges posed by U.S. policies.

In a move that marks a shift in policy, France hosted a meeting with 10 European countries to discuss potential trade negotiations with Mercosur. This reflects a broader EU strategy to diversify its trade partnerships and reduce reliance on traditional allies.

(With inputs from agencies.)