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EU Set for Free Trade with Mercosur, Tariffs Cut

1/23/2026

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Summary

Story summary

The European Union is prepared to implement a provisional free trade agreement with Mercosur, Argentina, Brazil, Paraguay, and Uruguay.
European Commission President Ursula von der Leyen says the EU will act once a Mercosur country ratifies the deal.
The European Parliament delayed ratification for legal review.
The agreement aims to eliminate 90% of tariffs on goods.
Bolivia may join the agreement in the future, while Venezuela remains suspended.

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Story summary

The European Union is prepared to implement a provisional free trade agreement with Mercosur, Argentina, Brazil, Paraguay, and Uruguay.
European Commission President Ursula von der Leyen says the EU will act once a Mercosur country ratifies the deal.
The European Parliament delayed ratification for legal review.
The agreement aims to eliminate 90% of tariffs on goods.
Bolivia may join the agreement in the future, while Venezuela remains suspended.