EU Finalizes Farmer Protections, Advancing Mercosur Trade Deal

The European Union took a step toward approving its massive trade agreement with South American nations, finalizing measures to protect farmers once the pact is adopted.

At a meeting on Thursday, EU member states gave a preliminary nod to the safeguards, according to people familiar with the talks.

The measures would shield agriculture and food producers from low-priced competition or import surges from the new trading partners — Argentina, Brazil, Paraguay and Uruguay, known as the Mercosur bloc. The European Commission, the EU’s executive arm, proposed the protections to appease France and others who fear the trade ...