EU reaches South America trade deal after 25 years of talks

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The EU has finalized a free trade agreement with Brazil, Argentina, Paraguay, and Uruguay after 25 years of negotiations. Despite opposition from European farmers, the deal is seen as a significant step for multilateralism and international trade. Brazilian President Lula praised the agreement, while EU leaders highlighted its potential benefits for consumers and businesses. However, critics warn that it may harm local farmers due to increased imports. The deal also aims to address climate change and includes safeguards for farmers' livelihoods. Approval from the European Parliament is still needed.