India, May 8 -- EU-Mercosur trade agreement, 25 years in the making, provisionally took effect on May 1, 2026.

It created one of the world's largest free trade zones for 700 million consumers.

It slashes duties on 90% of goods over 10-15 years.

The deal sparked fierce resistance from European farmers and is riddled with legal challenges.

The European Union (EU)-Mercosur trade agreement, which was 25 years in the making, came into force, at least provisionally, on May 1, 2026.

Mercosur or the Southern Common Market is a regional South American trade bloc established in 1991, comprising Argentina, Brazil, Bolivia, Paraguay and Uruguay. The deal between the EU and the Mercosur bloc creates one of the biggest free trade zones in the worl...