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In the midst of the war in Ukraine, the European Union wants to launch new trade agreements with different countries to strengthen its relations. The last pact to be signed was with New Zealand, thus reinforcing its interest in the Indo-Pacific region. Where is European trade policy headed? In this edition of Europe Today we talk about the EU’s trade relations with China, Mercosur, New Zealand, Mexico and Chile, among others.
The Twenty-seven have tried to reinvigorate their business relationships in recent years. Given the failure of the agreement with the United States, which was considered buried when Donald Trump arrived at the White House, the European Union closed several historic agreements with Canada, Japan and, in 2019, with the Mercosur countries, after 20 years of difficult talks. However, the agreement has not been ratified due to the European Parliament’s rejection of the climate policy of the Government of Jair Bolsonaro in Brazil and the deforestation of the Amazon.
Nor has the Investment Agreement with China, closed in 2020 and frozen by the European Parliament since Beijing imposed sanctions against MEPs, been ratified for the time being. The EU considers that the Asian giant is not complying with the agreement. However, with the invasion of Russia, relations between Europe and Beijing have not improved either, increasingly erasing hopes that the agreement will be unblocked.
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