EU confirms Mercosur trade deal to be signed January 17

European Commission head Ursula von der Leyen will sign the Mercosur trade deal in Paraguay on January 17, Brussels said Sunday.

The EU gave a long-delayed go-ahead Friday to the huge trade pact with the South American bloc -- overriding opposition led by key power France.

More than 25 years in the making, supporters see the deal as crucial to boost exports, support the continent's ailing economy and foster diplomatic ties at a time of global uncertainty.




But the agreement has drawn protests from farmers who fear being undercut by an influx of cheap beef and other products from South America.

Argentina's Foreign Minister Pablo Quirno had already announced that the deal would be signed next Saturday.

Paraguay is the country currently holding the rotating presidency of Mercosur.