The European Parliament decided in January 2026 to send the text to the bloc's Court of Justice, an evaluation that can take up to two years. The text, however, states that the rules come into immediate effect, according to the Argentine News Agency. The treaty, signed on January 17 in Paraguay after more than 25 years of negotiations, provides for the progressive reduction or elimination of tariffs covering over 90% of trade between the two blocs. It also establishes common rules for the trade of industrial and agricultural products, as well as for investments and regulatory standards. The initiative aims to integrate a market of more than 700 million people, connecting South American economies with the euro area and boosting the flow of goods and capital. In the case of Brazil, the legislative process concluded with the approval of the agreement in the Senate on March 4, following the previous approval of the Chamber of Deputies. Brasilia, March 17 (Xinhua) — The Brazilian Congress promulgated this Tuesday the free trade agreement between the Southern Common Market (Mercosur) and the European Union (EU), a key step towards the formation of one of the world's largest commercial zones. The agreement was promulgated in a joint solemn session of Congress in which the presidents of the Senate, Davi Alcolumbre, and of the Chamber of Deputies, Hugo Motta, participated, as well as the Vice President of Brazil, Geraldo Alckmin, and the Minister of Foreign Affairs, Mauro Vieira. The trade agreement will enter into force gradually and provisionally from May 1, 2026. At the beginning of this month, President Luiz Inácio Lula da Silva signed a decree regulating bilateral safeguards applicable to trade with the EU. This mechanism allows for the application of temporary protective measures, such as tariff increases or import restrictions, in the event that a sudden surge of foreign products poses a risk to the local industry.
