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21m ago

EU–Mercosur Trade Pact Set for Signing in Paraguay After Lula–Von der Leyen Meeting

The agreement now heads to legislative scrutiny in Europe that could delay its start by up to two years.

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Lula e a presidente da Comissão Europeia, Ursula von der Leyen.
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Overview

  • The signing is scheduled for January 17 in Asunción, with Brazil represented by Foreign Minister Mauro Vieira as President Lula remains in Rio.
  • Lula and Ursula von der Leyen hailed the pact as a win for multilateralism after more than 25 years of talks, creating a market of roughly 720 million people and about $22 trillion in GDP.
  • The commercial pillar would cut or eliminate tariffs on over 90% of bilateral trade, opening EU access for industrial goods and expanding Mercosur access for agricultural exports.
  • A group of 145 MEPs seeks to refer the pact to the EU Court of Justice, with a European Parliament vote set for January 21 that could add up to a two‑year delay.
  • Brazilian officials say the deal could take effect in the second half of 2026 if approvals move in the first semester, while Mercosur countries still need national ratifications.