MERCOSUR to be provisionally applied on May 1

Yesterday, the European Union announced the mercosur trade deal with Argentina, Brazil, Paraguay and Uruguay would be provisionally applied on May 1, after Paraguay ratified the agreement last Tuesday, the last mercosur country to do so. This comes despite opposition from France, and it depends on a decision on the legality of the agreement from the EU Court of Justice. Once enacted, the deal will create one of the world’s largest economic trade blocs and a major economic rival to America.