President Lula da Silva of Brazil is threatening to walk away from a long-awaited trade deal with the South American trade bloc, Mercosur, and European member states, after several European nations display hesitance on the deal.
For what would likely become the world's largest free-trade area, spanning the Southern cone nations of Argentina, Brazil, Paraguay, Uruguay, and Bolivia, and the 27 member states of the European Union, the trade agreement–which has been negotiated for decades–is aimed at boosting free trade between the two blocs and expanding domestic production for the South American countries, providing cheaper agricultural products for a demanding European population.
The deal, however, has ignited a firestorm of protests from European farmers in recent years, outraged at the prospect of their governments importing cheap agricultural products.
On Wednesday, President Lula said his government will walk away from the table and reject any other agreement with Europe throughout the remainder of his time in office if European counterparts do not finalize the agreement in the coming days.
The statement from Brazil's Lula came after President Giorgia Meloni of Italy expressed reservations about the deal, stating that any signing of the trade deal would be "premature".
Emmanuel Macron of France soon followed suit, throwing cold water on any ratification of the agreement by pushing for a delay amid widespread protests from French farmers in recent days.
Macron reportedly told cabinet members that he will "firmly oppose" any move to force a deal with the South American bloc.
Demonstrations have also turned violent in Belgium in recent days as local producers express frustration towards a government they say is intent on ignoring their interests.
EU member states are expected to convene in Brussels on Thursday to discuss the matter and any potential trade deal with Mercosur.
