EU and Mercosur Set to Sign Long-Awaited Trade Agreement Amid Mixed Reactions

The EU and Mercosur countries—Argentina, Brazil, Paraguay, and Uruguay—are set to sign a long-awaited free trade agreement in Paraguay, creating a large trade bloc covering 720 million people and a GDP over $22 trillion. Brazilian President Lula will not attend the signing, delegating representation to his foreign minister. The deal, aimed at reducing tariffs and expanding trade, faces opposition within the EU over environmental and agricultural concerns. Its implementation depends on European Parliament approval and ratification by all EU member states, a process expected to take months or years.