EU trade deal with South America’s Mercosur bloc takes provisional effect

The long-awaited trade deal between the European Union and South America's Mercosur bloc has provisionally come into effect after 25 years of negotiations. This agreement aims to lower tariffs and boost trade between the two regions, accounting for 30% of global GDP. Although the deal is in effect, it is being challenged by the EU judiciary, which could halt it if the ruling is unfavorable. European Commission President Ursula von der Leyen praised the deal as good news for EU businesses and consumers.