El Mercosur y la UE firmaron acuerdo de libre comercio tras 26 años de negociaciones

TL;DR

Mercosur and the EU signed a free trade agreement on January 17th in Asunción, Paraguay.
The agreement follows 26 years of negotiations and aims to create one of the world's largest integrated zones.
It will gradually reduce or eliminate tariffs for about 90% of imports and exports between the two blocs.
The deal unites 31 countries, representing nearly a quarter of the global economy.
Presidents Javier Milei (Argentina), Santiago Peña (Paraguay), and Yamandú Orsi (Uruguay) attended as witnesses; Luiz Inácio Lula da Silva (Brazil) was absent.
The agreement is seen as a message against rising protectionism and unilateralism.
The Mercosur agricultural sector and European industry are expected to benefit significantly.
The agreement includes safeguards against significant price or volume imbalances.
Entry into force requires further ratification processes on both sides of the Atlantic.

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