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EU Launches Free Trade Deal with South America After 25 Years

3/24/2026

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Summary

Story summary

The European Union will commence a free trade deal with Paraguay, Uruguay, Brazil, and Argentina on May 1 after more than 25 years of negotiations.
The deal is part of the European Union's strategy to reduce economic reliance on China and the United States.
Paraguay approved the agreement.
Uruguay, Brazil, Paraguay, and Argentina ratified the agreement.

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Story summary

The European Union will commence a free trade deal with Paraguay, Uruguay, Brazil, and Argentina on May 1 after more than 25 years of negotiations.
The deal is part of the European Union's strategy to reduce economic reliance on China and the United States.
Paraguay approved the agreement.
Uruguay, Brazil, Paraguay, and Argentina ratified the agreement.