Trade Agreement with Mercosur

On June 28, 2019, the European Union and the South American bloc Mercosur, which consists of Argentina, Brazil, Paraguay, and Uruguay, reached a trade agreement after 20 years of negotiations. The new trade framework is part of a broader Association Agreement between the two regions. Once in effect, the agreement will create a market of 780 million people and generate significant opportunities on both sides. It will also save European companies over 4 billion euros in tariffs.