EU-Mercosur mega trade deal: The winners and losers.

Carlo Martuscelli, Koen Verhelst, Douglas Busvine   Politico.eu9 January 2026
Europe’s biggest ever trade deal finally got the nod Friday after 25 years of negotiating.

It took blood, sweat, tears and tortured discussions to get there, but EU countries at last backed the deal with the Mercosur bloc.

POLITICO analyses who is uncorking the Malbec — and who is crying into their Bordeaux (cough, Emmanuel Macron, cough).