By Brazil Stock Guide – The European Union has postponed the signing of its long-awaited trade agreement with Mercosur, pushing the timeline to January instead of the previously expected date this weekend, according to officials briefed on the matter.
European Commission President Ursula von der Leyen informed EU leaders on Thursday (18) that the accord would not be signed as scheduled on Saturday (20). The delay follows political pressure within some member states, particularly Italy, where opposition from agricultural groups has intensified.
Brazilian President Luiz Inácio Lula da Silva said on Thursday (18) that he would relay Italy’s request for a short delay to Mercosur partners. Lula said he discussed the issue by phone with Italian Prime Minister Giorgia Meloni, who asked for additional time to address domestic concerns.
“She is experiencing a certain political difficulty because of Italian farmers, but she is confident she can convince them to accept the agreement. She asked that, if we can be patient for a week, 10 days, or at most one month, Italy will be on board with the agreement,” Lula told reporters.
In an official statement, Meloni’s office confirmed the conversation and said Italy is ready to sign the agreement once what it described as necessary assurances are provided to farmers, depending on decisions by the European Commission.
Meloni is meeting with other European leaders in Brussels, where the issue was discussed ahead of a vote scheduled for Friday (19) at the EU Council. The EU-Mercosur agreement, negotiated over more than two decades, remains politically sensitive in Europe despite strong backing from South American countries.
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