Mercosur Summit Paves the Way for EU Trade Deal

The South American trade bloc Mercosur has begun a two-day summit in Puerto Iguazú, Argentina, with the aim of finalizing a trade agreement with the European Union. The agreement, reached in principle in 2019 after two decades of negotiations, has been delayed due to concerns from some European governments about environmental protection in the Amazon jungle. The EU has proposed additional environmental guarantees, causing friction with South American leaders. Mercosur represents a significant portion of South America's population and GDP. The summit presents an opportunity to conclude an ambitious pact with a market of 260 million consumers.