Overview
- EU countries approved the agreement by 21–5 with one abstention, after Italy shifted to support and broke a prior blocking minority.
- The Council’s authorization enables European Commission president Ursula von der Leyen to sign, and Argentina confirmed a Jan. 17 ceremony in Paraguay.
- Lawmakers in Strasbourg must now vote on the commercial pillar, with around 150 MEPs signaling possible legal challenges, and national ratifications will also be required.
- The text would remove EU tariffs on 92% of Mercosur exports and grant preferential access for another 7.5%, with quotas for sensitive goods such as beef, poultry, maize and ethanol that the bloc says would benefit most agricultural sales.
- Once implemented, the accord would link markets of roughly 700–722 million people, and limited application could begin after parliamentary approval and early ratifications, potentially later in 2026.