EU-Mercosur Trade Deal Stalls, Pushed to 2025

A major trade agreement between the European Union and South America has been delayed. The European Commission has postponed the signing of its landmark deal with the Mercosur bloc. The deal will now not be finalized until next year. The Mercosur trade group includes Brazil, Argentina, Paraguay, and Uruguay. Officials stated the deal is "on the right track." However, several EU member states raised last-minute concerns. These concerns reportedly focus on environmental protections and competition for EU farmers. The delay pushes a final decision into 2025. The deal aims to create one of the world's largest free-trade zones. It would reduce tariffs on most goods traded between the two economic regions.