EU and Mercosur finalize revised trade pact after years of negotiations

The European Union and Mercosur have completed a revised trade agreement after years of negotiations, according to officials on Saturday. The deal is intended to lower tariffs and strengthen commercial ties between the two blocs.

Mercosur groups Argentina, Brazil, Paraguay and Uruguay, while the European Union is one of the world’s largest single markets. Supporters say the pact could widen market access for businesses on both sides and help increase trade flows.

The agreement still faces the next steps needed before it can take effect, including the formal approval process in member countries and EU institutions. Trade deals of this scale often draw scrutiny from lawmakers, industry groups and farming interests.

Officials have not released every detail of the updated text in the public summary, but the announcement marks a long-awaited breakthrough after years of talks. The outcome reflects a push to deepen economic ties at a time when global trade is under pressure from tariffs, supply chain strain and geopolitical uncertainty.