By Edith Hancock
The European Union will provisionally apply its trade agreement with South American countries from May 1, the European Commission said as lawmakers in the bloc are still waiting to ratify the accord.
"Today is an important step in demonstrating our credibility as a major trading partner," Maros Sefcovic, the commission's top trade negotiator, said in a statement Monday. "The priority now is turning this EU-Mercosur agreement into concrete outcomes, giving EU exporters the platform they need to seize new opportunities for trade, growth and jobs."
Members of the European Parliament narrowly voted to send the bloc's deal with Mercosur countries Argentina, Brazil, Paraguay and Uruguay to the Court of Justice of the EU for a legal check earlier this year, delaying the parliament's ability to vote on the deal itself.
The agreement--which was initially reached in late 2024 after decades of talks--includes tariff cuts on EU products such as cars and wine while also making it easier for beef and other agricultural goods from the South American countries to enter the bloc's market.
The accord had faced opposition from countries such as France and Poland over concerns it would ultimately disadvantage European farmers if cheaper South American goods started circulating in the market.
EU countries voted to allow the commission to move forward with applying the deal on a provisional basis in January. The EU executive offered to boost funding for farmers and proposed suspending some of the bloc's existing tariffs on fertilizers. It previously agreed to add safeguards that could pause tariffs on some agricultural goods from South America if there is evidence that they are distorting prices in the EU.
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
March 23, 2026 08:16 ET (12:16 GMT)
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