Mercosur-EU deal may have broken down over ethanol and beef

In Brazil, the Mercosur negotiations with the European Union may well have fallen apart on the back of ethanol and beef market access for the Latin American countries, as they say they are still waiting for another offer from the European Commission to finalize the deal. Trade officials for the bloc say that most of the deal has been agreed with Mercosur offering to open up trade for 90% of goods. The EU’s offer hasn’t moved from the 600,000 metric tons of market access offered in recent rounds of talks but Mercosur is holding out for the 1 million tons offered several years ago.

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