Overview
- Argentina says President Javier Milei will join a Saturday ceremony in Paraguay to sign the long-negotiated Mercosur–European Union agreement.
- The Council of the European Union authorized the bloc on January 9 to proceed with the treaty’s signature after years of internal objections.
- Argentina’s foreign minister says the EU will scrap tariffs on 92% of Mercosur exports and grant preferential access for another 7.5%, leaving 99% of agricultural shipments covered and opening a 450 million–person market.
- The pact must still be approved by national parliaments, with some estimates pointing to votes only by late 2026, followed by years of implementation.
- The push comes as China posted a $1.2 trillion 2025 trade surplus with exports shifting toward other regions, and as the legality of U.S. tariffs awaits a Supreme Court ruling.