www.bloomberg.com
After 25 years of negotiations, the European Union and Mercosur have finalized a landmark trade agreement alongside a political declaration. The deal aims to create one of the world’s largest free-trade blocs, covering over 700 million people. It is expected to boost trade by eliminating tariffs on most goods, particularly benefiting European exports like cars and machinery while opening Mercosur markets to European agriculture. Despite the breakthrough, the agreement faces significant challenges, as European farmers and environmental groups have raised strong concerns over deforestation and competition from South American beef and soy.
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