The European Union reached a blockbuster free trade agreement Friday with Brazil, Argentina and the three other South American nations in the Mercosur trade alliance, capping a quarter-century of on-off negotiations even as France vowed to derail the contentious accord.

The European Union and South American nations have spent more than a quarter of a century trying to strike a deal on free trade. The negotiations took on new urgency this year as a looming trade war between the world’s biggest trading partners — the US and China — spurred other regions to seek out new commercial partnerships to soften the blow.

The preliminary deal to lower tariffs and boost investments still needs approval from European Union member countries.

The EU and Mercosur have agreed to the final text of a major trade deal. Ratification still faces a lot of obstacles in Europe. The post The EU-Mercosur Trade Deal Isn't Out of the Woods Yet appeared first on World Politics Review.

French farmers have resumed protests against the EU-Mercosur free trade agreement. But experts say the increase in controversial imports is modest with enough safeguards to soften the impact.