On May 1, 2026, an Interim Trade Agreement (ITA) between the MERCUOUR countries (Argentina, Brazil, Paraguay, and Uruguay) and the European Union (EU) went into effect.

This ITA and an association agreement between MERCUOUR and the EU was signed on January 17, 2026. The ITA will reach a market of 700 million consumers while waiving import duties on 92% of MERCOSUR exports and give preferential treatment to another 7.5%.

EU Goods will have a 15-year duty reduction scheduled on imports that originate in MERCOSUR countries, while MERCOSUR goods will have a 10-year duty reduction schedule on imports that originate in the EU.

For more information please visit: https://www.cancilleria.gob.ar/userfiles/datos/ita_final_es.pdf