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Europe, South America Achieve Breakthrough in Free-Trade Talks (1)

June 28, 2019, 5:38 PMUpdated: June 28, 2019, 5:59 PM

Europe and South America’s leading customs union struck a free-trade deal after 20 years of talks, notching up a major win in a global market-opening drive that counters the protectionism of U.S. President Donald Trump.

Top European Union officials reached a breakthrough in free-trade negotiations with counterparts from the Mercosur group of Argentina, Brazil, Paraguay and Uruguay, paving the way for an agreement to expand goods shipments worth almost 90 billion euros ($102 billion) a year. The pact is slated to be among the EU’s biggest.

Both sides settled longstanding differences over Mercosur demands for greater access to the EU ...