Hopes for a Mercosur-EU trade deal fade yet again as leaders meet in Brazil

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SAO PAULO (AP) — Heads of state from South America’s Mercosur trade bloc were in Rio de Janeiro on Thursday for a meeting all but certain to once again disappoint members hoping to finalize a long-delayed deal with the European Union.

Negotiations with the EU were set to be the gathering’s main topic, and host Brazil had aimed for a swift conclusion to finalize a deal. However, the outgoing government of Argentina, the bloc’s second-biggest economy, has already said it opposes the agreement, although right-wing President-elect Javier Milei, who will be sworn in on Sunday, has expressed support.