LatestFrench President Emmanuel Macron says EU-Mercosur trade pact is ‘very bad deal'

French President Emmanuel Macron says EU-Mercosur trade pact is ‘very bad deal’

France: A proposed trade deal between the EU and the Mercosur region of South America has been dubbed a “very bad deal” by Emmanuel Macron because it fails to take climate change into account. During a three-day visit to Brazil, the largest economy in Latin America, the French president warned businesspeople there on Wednesday, “As its negotiated today, it is a very bad deal, for you and us.”

Amidst tense negotiations on a free trade agreement between the two economic blocs, the remarks have made.

Emmanuel Macron declared, “There is nothing that takes the subject of biodiversity and climate into consideration.” “Let’s forge a new trade agreement that is responsible for development, climate change, and biodiversity in light of our goals and reality.”

Brazil stated that its prepared to sign an agreement, but France has frequently voiced concerns and stated that its farmers have objected to the possibility that agricultural imports—most notably beef—that do not adhere to high EU criteria may permitted.

Fernando Haddad, Brazil’s finance minister, remarked at the same event, “We still have time.” “We lost out on a chance at the end of the previous year, but we shouldn’t give up on this deal,”

Luiz Inácio Lula da Silva, the president of Brazil, had spent a great deal of time on the agreement, he continued, and he would continue to do so to forge tighter ties with the European market.

European officials stated earlier this month that “decisive progress” may achieved by July.

The French president also stated that Brazil and France might work together to engage in third markets, particularly in Africa, and he advocated for much greater direct investment from Brazilian companies into France.

Since taking office again last year, Lula has travelled to several African countries. He has stated that he hopes to restore the “good and fruitful” ties his nation had with the continent when he was first elected president in the 2000s.

Additionally, his administration has attempted to remove climate protection measures taken by the far-right president Jair Bolsonaro’s previous administration.

Emmanuel Macron announced that he would advocate for additional international rules to financially incentivize banks, companies, and investors to decarbonize industrial processes and better preserve the environment at the next G20 and Cop conferences in Brazil.

Macron declared, “We need to go much faster, much stronger, and much farther.”

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