Overview
- European Commission president Ursula von der Leyen is scheduled to sign the agreement in Asunción with Argentina, Brazil, Paraguay and Uruguay.
- The deal phases out the 27% duty on still wines and the 35% duty on spirits, and drops dairy tariffs from 28% to 0% for up to 30,000 tonnes of cheese and 10,000 tonnes of milk powder each year.
- Negotiations with India are reported to be advancing, with the EU aiming to reduce Indian wine tariffs from roughly 150% toward 30–40%.
- Automotive, pharmaceuticals and luxury goods makers anticipate better access as high Mercosur import duties are dismantled over time.
- Farmer groups and some governments warn of stiffer competition and standards risks, pointing to an allowance of about 99,000 tonnes of beef imports under reduced duties, with safeguard clauses strengthened at France’s urging.