EU and Mercosur Advance Free Trade Agreement After 25 Years of Negotiations

The European Union and Mercosur, a South American trade bloc including Argentina, Brazil, Paraguay, and Uruguay, have reached a free trade agreement after 25 years of negotiations. Uruguay and Argentina have become the first Mercosur members to ratify the pact, with Brazil and Paraguay expected to follow. The EU plans to provisionally apply the deal to secure early benefits, despite ongoing legal challenges from European lawmakers. The agreement aims to create one of the world's largest free trade zones.