After 20 years of negotiations, EU strikes trade deal with Mercosur

According to the EU statement, the deal will remove the majority of tariffs on EU exports to Mercosur, a bloc comprising Argentina, Brazil, Paraguay and Uruguay. The Mercosur countries have agreed to open their markets to the European Union, saving them over $4.5 billion worth of duties per year. This makes it the largest trade agreement the European Union has ever concluded.

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