EU fast tracks Mercosur trade deal to secure advantage

The European Commission has moved to fast-track a landmark trade agreement with the South American Mercosur bloc, signaling a strategic shift to secure economic advantages in a shifting global market. European Commission President Ursula von der Leyen confirmed on Friday that the executive body will provisionally apply the pact, which follows 25 years of negotiations with Argentina, Brazil, Paraguay, and Uruguay.

"The European Union will provisionally apply a contentious free trade agreement with South American bloc Mercosur to ensure the bloc secures first-mover advantage."