Overview
- EU leaders Ursula von der Leyen and António Costa are due to sign the pact in Asunción, marking a diplomatic milestone but not its entry into force.
- MEPs will vote on Wednesday on whether to ask the European Court of Justice for a legal opinion, a step that would pause ratification for many months.
- The European Commission has signaled it could seek provisional application once Mercosur states begin ratifying, drawing warnings from MEPs about bypassing Parliament.
- Farm groups and several governments, including Austria, oppose the deal over concerns about agricultural imports and standards, with critics highlighting a 99,000‑tonne beef quota.
- Independent studies forecast only modest EU economic gains, while current trade patterns suggest limited direct impact for some countries such as Austria.