EU & Mercosur's Free Trade Deal: Modest Gains

0:00It's April 30th. This is Global News Today, your AI-powered source for world news. The European Union and South America's Merkel-Sir block kick off their massive free trade deal, this Friday May 1st, with provisional terms, is the EU's biggest tear-of-cut pact ever. After 25 years of talks, aimed at boosting exporters hit hard by US tariffs under President. Trump. Meanwhile, the EU has been hustling other deals since Trump's reelection, wrapping up agreements with India, Indonesia, Australia, and Mexico to shore. Uptrade amid US barriers and China's mineral curves. Supporters like Germany and Spain see it offsetting lost US sales, down 15% or more, and cutting China reliance. But France and farmers worry about floods of cheap beef and sugar, plus rainforest damage, while economists warn gains, stay modest at best. New estimates show the Merkel-Sir deal adding just 0.05% to EU GDP by 2040, with India's

1:02maybe double that. But those. Kicks won't hit for a decade. China's already dominating those markets with cheap exports, redirecting billions from US tariffs to places like Latin America. Bottom line, these packs help, but experts say the EU's real play is beefing up its own single market, where 60% of trade already flows. Internally, to truly bounce back strong.