{"text":[[{"start":9.3,"text":"The EU would lose global credibility if it fails to approve its trade deal with the Mercosur group of South American countries this week, the bloc’s top trade official said."}],[{"start":21.240000000000002,"text":"Maroš Šefčovič, EU trade commissioner, said delaying an approval vote this week could sink the deal with Argentina, Brazil, Paraguay and Uruguay — the biggest ever concluded by the European bloc."}],[{"start":36.68,"text":"French Prime Minister Sébastien Lecornu on Sunday called for the postponement, saying safeguards put forward by Brussels to protect farmers from a surge in food imports, particularly of cheap chicken and beef, were “still incomplete”."}],[{"start":53.11,"text":"“I think that this is a matter of the credibility and predictability of the EU,” Šefčovič told the Financial Times. “We talk often in Europe of the need to be strategic. There is a strategic decision to be taken.”"}],[{"start":67.11,"text":"Diplomats have warned that if this week’s vote is delayed, Mercosur countries could walk away from the pact, dealing a heavy blow to EU efforts to diversify trading partners in the face of US President Donald Trump’s tariffs and to boost the bloc’s moribund economy."}],[{"start":84.85,"text":"“It has everything we need,” Šefčovič said, arguing that it would open markets for EU cars and machinery and promise access to critical raw minerals to reduce dependence on China."}],[{"start":97.64999999999999,"text":"Mercosur, which was agreed last year but is yet to secure final approval from EU member states, has been dubbed a “cars for cows” trade deal. The EU wants to export industrial goods and Mercosur its meat, soyabeans and cereals."}],[{"start":115.88,"text":"But farmers across the EU have rallied against the proposed agreement, forcing some governments, including Poland and Hungary, to oppose it. "}],[{"start":125.86,"text":"For French President Emmanuel Macron, supporting Mercosur could drive more voters to the country’s far-right Rassemblement National party ahead of its 2027 presidential election, experts say."}],[{"start":140.1,"text":"European Commission president Ursula von der Leyen intends to travel to Brazil on Saturday to sign the pact but will not fly without endorsement from the bloc’s capitals."}],[{"start":150.89,"text":"Šefčovič said the safeguard, which would reimpose tariffs if imports of South American products undercut domestic EU production, was a “reinsurance” policy. The deal already guaranteed protection from an increase in imports and there was a €6bn-plus reserve fund to support farmers in case of losses, he argued."}],[{"start":173.58999999999997,"text":"“We spent a lot of time with our agriculture community to hear them out but also to address their concerns. And now I honestly believe that we did,” Šefčovič said."}],[{"start":184.68999999999997,"text":"He said the Mercosur deal, which would open a market of 270mn people to European wine, spirits and food products, would benefit farmers."}],[{"start":195.26999999999998,"text":"EU agriculture was a “global superpower”, he said. “We are exporting €235bn annually,” he added, pointing to a positive trade balance of €39bn last year for the bloc’s agrifood sector globally."}],[{"start":212.55999999999997,"text":"“Our Latin American partners are eager to sign it [the deal] now — it’s a signal that now is the time to do it,” Šefčovič said."}],[{"start":220.95,"text":"But those partners also wanted deals that were “commercially viable and meaningful” or could otherwise walk away, he warned."}],[{"start":229.78,"text":"European business groups last week said the deal, which took 25 years to negotiate, was more important than ever after US tariffs on EU goods and Chinese restrictions on imports. "}],[{"start":242.92000000000002,"text":"Šefčovič said the bloc was in talks with several other countries, from India to Australia and Malaysia, over trade deals as it seeks new markets. But they could have second thoughts if the EU could not deliver the agreements its negotiators had already struck."}],[{"start":259.90000000000003,"text":"“If we cannot take such an important decision on this type of deal then I can imagine that it could sow doubt in our negotiating partners’ minds,” he added."}],[{"start":280.92,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1765845401_7834.mp3"}