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The European Union and the South American bloc Mercosur are set to activate a contested free trade agreement.
The EU-Mercosur free trade agreement will be provisionally applied starting May 1, despite court challenges.
KEY POINTS
- The European Parliament voted to challenge the agreement in court, a decision that may take two years.
- The deal is Europe's largest tariff reduction pact, finalized after 25 years of negotiation.
- Economists warn the agreement won't fully counteract the decline in U.S.-EU trade caused by tariffs.
COMPANIES
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