Brazilian President Luiz Inacio Lula da Silva has warned he may abandon a long-awaited trade deal between members of the South American bloc Mercosur and the European Union after key countries sought a delay. The Brazilian leader issued the threat on Wednesday after Italy joined fellow heavyweight France in saying it was not ready to commit to the pact to create the world’s biggest free-trade area. The EU had expected its 27 member states to approve the deal in time for European Commission President Ursula von der Leyen to fly to Brazil to sign an agreement with the host, along with Mercosur partners Argentina, Paraguay and Uruguay, on Saturday.
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