Mercosur gives EU ultimatum

Ushuaia - A summit of South America's largest trading bloc, Mercosur, ended here yesterday with a warning to the EU that free…

Ushuaia - A summit of South America's largest trading bloc, Mercosur, ended here yesterday with a warning to the EU that free trade talks between the two regions are off if the EU seeks to exclude farm products.

President Carlos Menem of Argentina said it was impossible to have a free trade zone if the stronger partners in it had the discretion to shut out some economic sectors. However, President Fernando Cardoso of Brazil said Mercosur did not have the economic muscle to push negotiations with the EU forward.

  • Join The Irish Times on WhatsApp and stay up to date

  • Sign up for push alerts to get the best breaking news, analysis and comment delivered directly to your phone

  • Listen to In The News podcast daily for a deep dive on the stories that matter