This Wednesday, the European Parliament sent the trade agreement between the European Union and Mercosur to the Court of Justice of the European Union for assessment of its compliance with EU treaties, which halts its process until the judges issue their ruling. With 334 votes in favour, 324 against, and eleven abstentions, the European Parliament approved a motion that casts doubt on whether the agreement with Mercosur, signed this weekend after more than 25 years of negotiations, complies with EU treaties. The legitimacy of the rebalancing mechanism that is part of the pact is under discussion, as several legislators fear that this could impact the regulatory autonomy of the EU. The selected legal basis for its approval is also being evaluated, which allows for the chapters of the agreement related to trade to be ratified without the need for approval from national parliaments.
The European Parliament halts the EU-Mercosur agreement and sends it to the European court.
