European Parliament refers EU-Mercosur deal to court
The European Parliament voted 334 to 324 to refer the EU-Mercosur trade agreement to the European Court of Justice, a decision that could delay the deal by up to two years and potentially derail its approval. The agreement, signed on January 17, aims to create a free trade area involving over 700 million people but faces opposition from several EU member states, particularly France and Poland, due to concerns over agricultural imports. While the European Commission expressed regret over the decision, it may still pursue a provisional application of the deal, pending discussions among EU leaders.
European Commission to Revise Chemicals Regulation Framework
The European Commission is set to unveil a comprehensive overhaul of chemicals regulation, focusing on the REACH regulation and addressing concerns related to per- and polyfluoroalkyl substances (PFAS). This initiative will include a review of industrial policy and a call for the suspension of the Emissions Trading System (ETS), as manufacturers across the EU prepare for new compliance thresholds and expanded PFAS restrictions.
Germany and Italy push for EU reforms to boost competitiveness
Germany and Italy are advocating for significant reforms within the European Union to enhance competitiveness and streamline permitting processes, citing concerns that Europe risks falling behind the US and China. Their policy paper, presented ahead of the Leaders' Retreat in Belgium, emphasizes the need for a more agile EU framework to support member states in addressing global economic challenges.
