The European Union's executive arm on Wednesday unveiled detailed proposals to protect farmers from being undercut by imports from South America as it seeks to build support for its deal with the Mercosur trade alliance.
The deal between the EU and the five Mercosur countries — Brazil, Argentina, Uruguay, Paraguay and Bolivia — would progressively remove duties on almost all goods traded between the two blocs over the next 15 years. Provided it is ratified by both blocs, the accord would create one of the world’s largest free trade zones, covering a market of 780 million people that represents nearly a quarter of global gross domestic product.
