Overview
- EU governments approved the accord by qualified majority, with a 21–5 vote and one abstention, after Italy reversed its previous opposition.
- The formal signing is scheduled for January 17 in Asunción, enabling European Commission President Ursula von der Leyen to sign alongside Mercosur representatives.
- The pact would scrap EU tariffs on 92% of Mercosur exports and grant preferential access to another 7.5%, while setting quotas for sensitive products such as beef, poultry, maize and ethanol.
- Political resistance persists in Europe, including about 150 MEPs signaling potential legal challenges and continued objections from France and several other governments.
- If legislative approvals advance, initial application could begin later in 2026, ultimately covering roughly 700–722 million people with a combined GDP near $22 trillion.