EU-MERCOSUR DEAL OFFERS EUROPEAN AUTO AND PARTS EXPORTERS MAJOR NEW MARKETS
July 1st, 2019
THE EUROPEAN automobile manufacturing sector will be hoping that the newly negotiated European Union (EU)-Mercosur trade deal is ratified quickly, given it scraps import duties imposed by Brazil and Argentina on EU automobile exports of 35%.
This agreement has been welcomed by the European Automobile Manufacturers’ Association (ACEA), which noted that the South American trade bloc, which also includes Uruguay and Paraguay, is home to around 270 million people, where 3.3 million new cars were sold during 2018. Given that year, the EU exported just 73,000 cars ...
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