The Complete Guide
Key Facts
The Mercosur EU trade deal is the largest bloc-to-bloc agreement ever signed — 720 million consumers, €111 billion ($128 billion) in annual two-way trade, and the elimination of more than 90% of tariffs.
All four founding Mercosur members have ratified: Uruguay and Argentina first, Brazil’s Senate on 4 March 2026, and Paraguay’s Chamber unanimously on 17 March 2026 — provisional application is live and tariff cuts have begun.
The European Parliament referred the deal to the EU Court of Justice for a legality review of up to 18 months, blocking final ratification while provisional application continues unchanged.
