The EU-Mercosur Deal Is a Hedge Against the Donroe Doctrine |
Last Friday, the European Union green-lit a trade agreement with the South American customs union Mercosur. The deal paves the way for the creation of one of the world’s largest free trade zones in terms of population, encompassing more than 700 million people. After 25 years of on-and-off negotiations, the timing of the EU’s approval underscores the compact’s geopolitical significance.
The agreement, which is due to be signed in Paraguay on Jan. 17, comes just as Washington is embracing a hard-power redux via the so-called Donroe Doctrine. The deal has become about much more than trade: It is a sign that Europe and much of South America are pursuing strategies to increase their economic and strategic autonomy in the face of U.S. protectionism and military threats. As the United States projects force via gunboats in the Caribbean and explicit threats against Greenland, both regions are instead choosing partnership.
Last Friday, the European Union green-lit a trade agreement with the South American customs union Mercosur. The deal paves the way for the creation of one of the world’s largest free trade zones in terms of population, encompassing more than 700 million people. After 25 years of on-and-off negotiations, the timing of the EU’s approval underscores the compact’s geopolitical significance.
The agreement, which is due to be signed in Paraguay on Jan. 17, comes just as Washington is embracing a hard-power redux via the so-called Donroe Doctrine. The deal has become about much more than trade: It is a sign that Europe and much of South America are pursuing strategies to increase their economic and strategic autonomy in the face of U.S. protectionism and military threats. As the United States projects force via gunboats in the Caribbean and explicit threats against Greenland, both regions are instead choosing partnership.
EU-Mercosur talks began in 1999 but stalled amid a wave of leftist leaders in South America during the 2000s and early 2010s. With the arrival of more market-friendly presidents in Argentina in 2015 and Brazil in 2016, negotiations advanced, and an agreement in principle was........