EU and Mercosur sign trade agreement to create world's largest trade zone

The EU and Mercosur have signed a trade agreement, creating the world's largest trade zone and signaling a commitment to a rules-based global order amidst rising protectionism. This landmark deal, finalized this week, aims to boost European exports by nearly 70% and save businesses €4 billion annually in customs duties, fostering economic resilience and strategic autonomy. The agreement also includes enforceable climate and labor commitments, strengthens the euro's international role, and secures access to critical minerals, reinforcing Europe's global influence.