The Latest Breaking News from Mercosur

Against tough odds, the European Union and four key South American countries are closer than they've been in 25 years to signing a long-delayed free trade deal

The EU-Mercosur trade agreement cannot be implemented without the approval of MEPs, who are set to vote next week on a legal challenge against it.

Farmers from FNSEA and Jeunes Agriculteurs unions left Paris after protesting rising costs. Tractors entered Toulouse, defying a local ban, under police watch.

French farmers began lifting their blockade of Paris early Wednesday after the government pledged debt relief measures and an emergency farm law, as protests driven by opposition to the EU-Mercosur trade deal continued elsewhere in the country.

Latin American markets such as Chile, Peru, and Argentina are leading global returns in recent months, driven by rising commodity prices, a weaker dollar, political catalysts, and reform momentum.

The demonstrations in the French capital came days before the final signing of the agreement, scheduled for Saturday in Paraguay, which would create a free trade area between the EU and Argentina, Brazil, Uruguay and Paraguay.

French farmers drove over350 tractors into Paris for the second time in a week on Tuesday to protest an EU-Mercosur trade deal which is due to be signed at the weekend. French farmers unions say the deal threatens local agriculture by creating unfair competition with cheaper South American imports.

Venezuela is not a major EU trade partner. Spain dominates trade, accounting for 55% of the total volume. Given Venezuela’s large proven crude oil reserves, the EU closely monitors political developments in the country.

Far-right group Patriots for Europe will present a motion of no confidence against Ursula von der Leyen's Commission, disputing the signature of the EU-Mercosur trade deal – but their chances of success are practically none.

The German chancellor is already a strong supporter of the contentious Mercosur agreement adopted by EU countries last Friday.

Thousands of farmers in Ireland and France protested Saturday against the European Union's trade deal with the South American bloc Mercosur, a day after EU states approved the treaty despite opposition from some members.