the European UnionŌu méng欧盟and / withyǔ与South AmericaNán Měi南美trade / commercemàoyì贸易bloc / groupjítuán集团Mercosur (South American trade bloc)Nánfāng Gòngtóng Shìchǎng南方共同市场(possessive particle)de的free tradezìyóu màoyì自由贸易agreement / accordxiéyì协议officially / formallyzhèngshì正式to take effect / to come into forceshēngxiào生效。
May 4, 2026 at 10:00 AM
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BusinessEU-Mercosur Free Trade Agreement Takes Effect After 25 Years
The free trade agreement between the EU and South Americas Mercosur bloc took effect May 1 after 25 years of negotiations. The new agreement covers some 720 million consumers and will eliminate more than 90 percent of bilateral tariffs.
The EU-Mercosur free trade agreement officially took effect on May 1st. This agreement came after 25 years of negotiations, establishing one of the world's largest free trade zones. The new trade zone covers approximately 720 million consumers with total trade value estimated at approximately $22 trillion. The agreement will eliminate tariffs on more than 90 percent of bilateral trade. European automobiles, wine, and cheese will gain better export conditions. South American beef, poultry, sugar, and soybeans will also more easily enter the European market. This agreement has drawn widespread international attention amid rising global trade protectionism.
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