(Reuters) – Brazil’s President Luiz Inácio Lula da Silva said on Friday that the latest proposal for a trade deal between the European Union and South American bloc Mercosur made a deal impossible because Among them was a “threat” to Brazil.
The Brazilian leader was referring to the EU’s appendix to the agreement that attaches commitments on sustainable development and climate change and imposes penalties on countries that fail to comply with climate targets outlined in the Paris Agreement.
“I can reach an agreement on Mercosur, but with this additional letter from the EU, it is impossible,” Lula told an event in Paris.
“The letter poses a threat to the strategic partner (Brazil),” he added.
Lula also said that countries need to regain political power, criticizing the World Bank and the IMF for “a lot more than people expect.” deficiencies”.
“The UN needs to be representative again, to have political power,” Lula said. “We can’t let these institutions work the wrong way,” he added.