EU and Mercosur prepare to finalize long-awaited trade agreement

The European Union and Mercosur are set to finalize a free trade agreement after over 20 years of negotiations. A political agreement is expected to be announced on Friday in Montevideo, Uruguay, by EU Commission President Ursula von der Leyen and Mercosur leaders. Despite the agreement, it faces strong opposition in Europe, particularly from France, which has labeled the deal "unacceptable." Other countries, including Italy and Poland, have also expressed concerns, citing potential negative impacts on local farmers and environmental standards. Supporters, including Germany and Spain, argue the deal is essential for diversifying trade and accessing South American markets. Approval requires backing from 15 of the 27 EU member states and a majority in the European Parliament.