French companies have been reported to be exploring the relocation of their production to Paraguay, drawn by its maquila regime and strategic geographic location, according to Benoit Libourel, president of the Paraguayan-French Chamber of Commerce.
Venezuela's Foreign Minister Yván Gil rejected his country's inclusion by the European Union (EU) in a list of “high-risk” nations, calling it a “ridiculous” attempt by a “decrepit European elite.”
Argentina has formally objected to the European Union's preliminary classification of the country as a “standard risk” under the EU Deforestation-Free Regulation (EUDR). The regulation, set to take effect in 2026, aims to ensure that consumer products imported into the EU, such as soybeans, beef, timber, and cocoa, do not originate from deforested areas after December 31, 2020.
US tech giants Apple and Meta were fined €500 million ($572 million) and €200 million respectively. by the European Commission for breach of the EU's Digital Markets Act (DMA) obligations
US President Donald Trump threatened Thursday to impose a 200% tariff on all European Union (EU) alcoholic products, including wines, champagnes, and other beverages, in response to the reinstatement of a 50% tariff on American whiskey. The EU's tariffs, announced by the European Commission on Wednesday, are set to begin on April 1 and fully take effect by April 13, targeting US$ 19.6 billion in US imports. This move retaliates against Trump's recent 25% tariffs on steel and aluminum imports starting Thursday. The EU tariffs also revive previous measures from 2018 and 2020, impacting US$ 8.7 billion in US goods, focusing on products from Republican-led states like soybeans, beef, and poultry.
A Brazilian expert foresees that the Free Trade Agreement (FTA) between the Southern Common Market (Mercosur) and the European Union (EU) will represent a 5.1% increase in commerce with the bloc that is already South America's largest country's second-largest partner, behind China, Agencia Brasil reported. These projections would mean a 0.34% rise in the Gross Domestic Product (GDP), the sum of goods and services produced in the country.
The implementation of the European Union Deforestation Regulation bill has been postponed until the end of 2025, following a provisional political agreement this week, between the European Parliament and the European Council.
The Southern Common Market (Mercosur) hopes to clinch the Free Trade Agreement (FTA) with the European Union (EU) during the two-day regional bloc's Summit starting Thursday in Montevideo with European Commission President Ursula von der Leyen as the main guest.
France's Parliament was unusually united this week in rejecting the Free Trade Agreement (FTA) between the European Union (EU) and the Southern Common Market (Mercosur), thus yielding to protests from local farmers who fear unfair competition. The Senate gave its thumbs down Thursday, just one day after the Lower House did the same by 484 votes against 70.
Brazil's Lower House Speaker Arthur Lira spoke Monday against Europe's protectionism, particularly that of France, and announced that a bill would be voted on this week providing for economic reciprocity. If approved, the Brazilian government would be prevented from signing any international agreements with clauses restricting the import of Brazilian products unless the signatory countries adopt equivalent environmental protection measures.