Economy
EU-Mercosur Trade Agreement Enters into Provisional Effect
After 25 years of talks, the EU-Mercosur free trade agreement provisionally took effect on January 17, creating a bloc of 720 million consumers and a combined $22 trillion economy. The deal eliminates tariffs on over 90% of bilateral trade, benefiting EU exports like cars and wine, and South American goods like beef and soy. However, legal challenges and protests from European farmers remain obstacles.