European Union and Mercosur Strike Major Trade Deal
The European Union and South America's Mercosur bloc have signed a historic free trade agreement, ending over 25 years of negotiations. This deal aims to bolster trade ties amid rising global protectionism, potentially impacting markets and consumer prices significantly.
The agreement, signed in Asuncion, Paraguay, eliminates tariffs on over 90% of goods, creating one of the world's largest free trade zones. While it faces ratification hurdles in the EU, support is strong in South America. Analysts suggest this could reshape global trade dynamics, especially against U.S. tariffs. Will this deal change the landscape of international trade?
#TradeDeal #EU #Mercosur #GlobalEconomy
https://apnews.com/article/mercosur-european-union-trade-agreement-south-america-b779460da4b7ecb6aa15d322976fa70d