EU strikes blockbuster trade deal with Mercosur

Stay informed with free updates

Simply sign up to the EU trade myFT Digest — delivered directly to your inbox.

The EU and five South American countries have concluded a blockbuster trade deal that would create a market of 700mn people by dropping tariffs on more than 90 per cent of goods.

European Commission president Ursula von der Leyen and leaders of the Mercosur countries clinched the agreement, the largest either has signed, after 25 years of talks at a summit in Uruguay.

“This is a win-win agreement, which will bring meaningful benefits to consumers and businesses, on both sides. We are focused on fairness and mutual benefit,” she said.

This is a developing story