EU–Mercosur Deal Text Agreed as Leaders Move Toward Formal Signing

Overview

• Leaders are expected to sign the agreement in Asunción on January 17 after negotiators finalized the text.
• European Union procedures allow a simple majority in the European Parliament to activate an interim commercial accord, with the broader partnership requiring ratification by all EU and Mercosur states.
• President Luiz Inácio Lula da Silva will host Ursula von der Leyen and European Council President António Costa in Rio on January 16 to discuss implementation steps.
• The treaty phases in tariff cuts over up to 15 years, eliminating duties on about 90% of trade and using quotas and safeguards for sensitive farm products such as beef.
• France maintains opposition as farmers staged tractor protests in Paris and the government faces two no‑confidence motions that are not expected to succeed.