The European Union and four Mercosur countries – Argentina, Brazil, Paraguay and Uruguay – reached a political agreement on December 6, 2024 for a ground-breaking partnership agreement.

The President of the European Commission Ursula von der Leyen and her counterparts from four Mercosur countries (Brazilian President Lula, Argentinian President Milei, Paraguayan President Peña, and Uruguayan President Lacalle Pou) finalized negotiations for a EU-Mercosur partnership agreement

EU and Mercosur seal free trade agreement | DW News

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The historic agreement will create the world’s biggest trade zone — leading to more jobs, more choices, and more opportunities for South Americans and Europeans.

The agreement took 25 years to complete and would create a free-trade zone spanning some 770 million people. Meanwhile,  Donald Trump has threatens to launch a global trade war when he returns as U.S. president next month.

Camille Gijs and Giorgio Leali, writing in Politico »

European Commission President Ursula von der Leyen sealed a massive trade agreement with South America on Friday, in a bold step that threatens to widen a rift between France, which hates the deal, and her native Germany, which loves it.

“Today marks a truly historic milestone,” von der Leyen said after summit talks with leaders of the Mercosur bloc in the Uruguayan capital, Montevideo.

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