The European Parliament approved the safeguards of the EU-Mercosur agreement, with which it seeks to protect the producers of that bloc.

By 483 votes in favor, 102 against, and 67 abstentions, the European Parliament (EP) approved yesterday the new safeguard regulation for the EU-Mercosur agreement, which seeks to protect the agricultural sector of that bloc against possible harm caused by the trade of products from Argentina, Brazil, Paraguay, or Uruguay. The text, which must now receive formal approval from the Council and be published in the Official Journal of the European Union, introduces a more stringent monitoring mechanism than initially proposed, through which tariff benefits could be temporarily suspended. Specifically, it mandates the initiation of an investigation when imports of sensitive products—such as poultry, beef, eggs, citrus fruits, or sugar—increase by 5% compared to the average of the last 3 years and, in addition, enter the European market at prices 5% lower. The original proposal set this threshold at 10%, which many considered insufficient, leading to the proposal of an alternative ...