EU, Mercosur bloc sign free trade deal after 25 years of negotiations

European and South American officials have signed a landmark free trade agreement, the largest between the EU and Mercosur, after 25 years of negotiations. The deal aims to lower tariffs and enhance trade between the regions, but awaits approval from the European Parliament and Mercosur nations.

EU chief Ursula Von der Leyen emphasized choosing "fair trade over tariffs." Despite opposition from farmers and environmentalists, leaders believe the pact will promote jobs and prosperity.

The treaty eliminates tariffs on 90% of bilateral trade, benefiting EU exports while facilitating South American agricultural products into Europe.