Executive Summary  Introduction   On January 17th, 2026, Mercosur—a South American customs union comprising Argentina, Bolivia (partial-member), Brazil, Paraguay, and Uruguay—signed a landmark free trade agreement with the European Union. The deal is slated to remove around $4.8 billion in tariffs between the two economic blocs, leading to an estimated 39 percent annual growth in EU exports to Mercosur (from $72 billion in 2024 goods export) and the elimination of EU duties … Continue reading →