By Sarah Ganter On 17 January 2026, the European Union and the Mercosur countries (Argentina, Brazil, Paraguay and Uruguay) signed the EU–Mercosur Partnership Agreement (EMPA) and an accompanying Interim Trade Agreement (iTA) in Asunción, which marked the conclusion of the longest negotiations on a trade partnership to date. The agreement between the European Union and the South American economic alliance Mercado Común del Sur (Mercosur) was 26 years in the making and covers 30% of global gross