After 20 years of on-and-off negotiations, leaders from the European Union and South America’s Mercosur trade bloc announced late last month that they had reached a sweeping trade agreement encompassing 800 million people and almost a quarter of the global economy. In an email interview with WPR, Bruno Binetti, a Buenos Aires-based research fellow at the Inter-American Dialogue, discusses the many obstacles standing in the way of the deal’s successful implementation.
How likely is the U.S. Congress to approve USMCA this year, and what sorts of complications would pushing its ratification into 2020 bring? How are political dynamics affecting the deal’s passage? If the trade pact is delayed further, to what extent will North America’s manufacturers suffer?