ENERGY TRADERS COULD BENEFIT FROM NEW EU-MERCOSUR TRADE DEAL
July 1st, 2019
EUROPEAN Union (EU) importer of liquid fuels should benefit from a trade deal struck between the EU and the Mercosur bloc of Brazil, Argentina, Uruguay and Paraguay. The agreement will phase out all EU duties charged on industrial goods over 10 years. In return, the Mercosur countries will phase out duties on EU exports of industrial goods accounting for 91% of EU industrial products sent to these countries. The full text has yet been released, so it is not clear which oil and gas lines might be exempt from this Mercosur commitment, but a European Commission note ...
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