Four of the largest economies in South America have signed trade agreements with the European Union.
Ursula von der Leyen, president of the European Commission, described the deal as a “truly historic milestone” in a world that is becoming more and more combative.
Because not all EU member states were willing to approve it, a previous agreement from 2019 never became operative.
Companies trading between the two regional blocs will pay each other lower tariffs, employ streamlined customs procedures, and provide the EU with better access to raw resources if this agreement is ratified by EU states.
In Montevideo, Ms. von der Leyen said reporters that it was in the best interests of Europeans. “It means more jobs and good jobs, more choices and better prices,” she stated.
