Overview
- The signing ceremony is scheduled for 12:00 local time in Asuncion, with Ursula von der Leyen and European Council president Antonio Costa joining Paraguay's Santiago Peña and Uruguay's Yamandu Orsi.
- Brazil's Luiz Inacio Lula da Silva helped drive the talks but will not attend the event, and Argentina's Javier Milei has not confirmed his presence.
- The pact would remove many tariffs, boosting EU exports of cars, machinery, wine and cheese while allowing limited, quota-based access for South American beef, poultry, sugar, rice, honey and soy.
- EU farming groups fear cheaper imports and enforcement gaps, prompting large demonstrations in France, Poland, Ireland and Belgium and a planned rally in Strasbourg on January 20.
- Together the EU and Mercosur encompass roughly 30% of global GDP and more than 700 million consumers after negotiations that began in 1999.