EU-Mercosur trade deal nears completion as Ursula von der Leyen attends summit in South America

European Commission President Ursula von der Leyen announced progress on the EU-Mercosur trade deal during a summit in South America. The agreement, initially reached in 2019, aims to create a market of 700 million people and save EU businesses over €4 billion annually in tariffs. Despite this momentum, opposition remains strong, particularly from France and Ireland, where farmers fear competition from lower-standard imports. French President Emmanuel Macron has rallied support against the deal, while other EU member states, including Poland and Austria, have also expressed concerns. Negotiations are ongoing in Montevideo, with discussions about a compensation mechanism for affected farmers. The deal's ratification faces challenges, as it requires approval from multiple EU states and the European Parliament, a process that could take up to a year.