EU fast-tracks contentious trade deal with South America’s Mercosur

The European Union will provisionally apply a contentious free trade agreement with South American bloc Mercosur to ensure it secures first-mover advantage, European Commission President Ursula von der Leyen said on Friday.

The European Union normally waits for approval of its free trade agreements by EU governments and the European Parliament. However, EU lawmakers voted last month to challenge the agreement in the bloc’s top court, potentially delaying its full implementation by two years.