Macron wants to reopen EU-Mercosur trade deal

Amid the diplomatic conflict between Brazil and France, French President Emmanuel Macron said he intends to reopen negotiations for the free-trade agreement between the EU and Mercosur. The EU-Mercosur agreement is in process of legal review and translation, which may last until March. But Mr. Macron seems determined to review it, claiming President Jair Bolsonaro doesn’t respect environmental commitments. He also announced the G-7 will provide a $50 million financial package to help the Amazon. Mr. Bolsonaro was ironic about the offer, saying nobody provides such help without expecting something in return. “What do they want [in the Amazon]?”

Source: Valor Econômico