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Additionally, its foundational principle of "closed regionalism" limited member countries' ability to independently negotiate trade deals outside the bloc. This has frustrated leaders like Uruguay’s Lacalle Pou, revealing the design flaws in Mercosur’s framework. Javier Milei’s ascent offers a fresh perspective, as he aims to reshape this regionalism into a more open system.
Fresh Developments in EU-Mercosur Negotiations
As discussions resumed in recent months, the latest pre-agreement has brought renewed hope. The plan includes the elimination of tariffs on 90% of products between the EU and Mercosur. This would profoundly impact key European industries, including automotive and chemical products, ultimately reducing costs and streamlining procedures for trading.