EU And Mercosur Block Of South American Nations Sign Landmark Free Trade Agreement

The European Union and the Mercosur bloc of South American nations have formally signed a landmark free trade agreement after more than 25 years of negotiations. The deal, signed in Paraguay's capital Asunción, is seen as a major geopolitical victory for the EU amid rising global protectionism, US tariffs and growing Chinese influence in South America. European Commission President Ursula von der Leyen said the geopolitical importance of the agreement cannot be overstated. The accord creates one of the world's largest free trade zones, covering over 700 million consumers, but still requires ratification by the European Parliament. The agreement has faced strong opposition from European farmers worried about cheap agricultural imports, with protests erupting across parts of Europe, while France continues to oppose the pact.