EU-Mercosur Trade Deal Clears Final Hurdle, Signing Imminent

The European Union and the South American Mercosur bloc are set to sign a major trade agreement on Monday. This follows a last-minute compromise that removed the final significant objection within the EU. The European Commission announced new protections for the EU agricultural sector. These concessions specifically satisfied Italy, which had been blocking the deal. The agreement, twenty years in negotiation, will create one of the world's largest free-trade zones. It aims to reduce tariffs on most goods traded between the two economic areas. The deal will proceed despite continued opposition from France and several other EU nations. They argue it does not do enough to protect farmers from cheaper imports and to enforce environmental standards. With Italian objections now resolved, EU officials confirm the signing ceremony is scheduled.