Ursula von der Leyen was supposed to sign the European Union’s largest free-trade agreement on Saturday, proving the bloc’s standing as a geoeconomic force.
Instead, the European Commission president will have to figure out a way to salvage the Mercosur pact by rallying last-minute support from countries including Italy that helped delay the deal – yet again – over concerns it would hurt domestic farming sectors.
Negotiations on the trade accord – with Argentina, Brazil, Uruguay and Paraguay – have been drawn out over 25 years, rankling the South American countries. Brazilian President Luiz Inácio Lula da Silva said earlier this week the time was now or never.
In a letter to Lula Friday, von der Leyen and European Council President Antonio Costa regretted missing the December 20 self-imposed deadline and said th
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