April 30, 2026 2:52 PM
EU kickstarts Mercosur pact to counter US trade hit
The European Union and South American bloc Mercosur will implement on Friday a contentious free trade agreement that the EU in particular hopes will benefit exporters and calm critics, even if it cannot fully offset the blow from U.S. tariffs. Backers including Germany and Spain say the agreement will help compensate for the hit from U.S. President Donald Trump's tariffs and reduce reliance on China for critical minerals. France and other critics argue it will increase imports of cheap beef and...


