> The European Commission on wednesday approved a draft of the trade deal with Mercosur, which would form a 700 million-strong transatlantic free trade area - 25 years after negotiations began.

> Mercosur will progressively remove tariffs on 91% of EU exports over a period of 15 years. The EU will progressively remove tariffs on 92% of Mercosur exports over a period of up to 10 years.

> The modernised agreement will reinforce engagement on sustainable development, crime, migration, and gender equality. It promotes and protects human rights, multilateralism, and security, and facilitates strategic cooperation on key issues like de-risking supply chains, securing critical raw materials, and tackling climate change.

https://x.com/EU_Commission/status/1963205149553480142