EU & Mercosur Seal Historic Free Trade Deal After 25 Years of Talks

• The European Union and Mercosur trading bloc (Brazil, Argentina, Paraguay, Uruguay) reached a free trade agreement after 25 years of negotiations.
• The deal, hailed as a "historic day for multilateralism" by Brazilian President Lula da Silva, awaits approval from the European Parliament.
• Critics, including European farmers, fear cheap imports of beef, poultry, and sugar could undercut local producers, leading to protests in France and Belgium.
• EU Commission President Ursula von der Leyen stated the deal includes "robust safeguards" to protect farmers' livelihoods.
• The agreement is expected to save local companies €4bn annually in export duties and includes commitments to halt deforestation.

Why It Matters: EU and Mercosur finalize a major free trade agreement, facing farmer opposition but promising economic and environmental benefits.