EU tries to get closer to South America with trade deal

The pact promises lower tariffs but may still meet resistance from European countries.

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European Commission president Ursula von der Leyen called the agreement a "truly historic milestone" in an "increasingly confrontational world".

A previous agreement in 2019 never came into force because not all EU member states were willing to ratify it.

If this deal gets ratified by EU states, it means that companies trading between the two regional blocs will charge each other lower tariffs, use simplified customs procedures and it will give the EU easier access to raw materials.

Ms von der Leyen told reporters in Montevideo it was in the interest of Europe's citizens. "It means more jobs and good jobs, more choices and better prices," she said.

https://www.bbc.com/news/articles/clyv0k88dgjo

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