EU agrees deal with South American trade bloc Mercosur

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The EU and South American economic bloc Mercosur have clinched a trade deal following 20 years of negotiations.

Brazil’s President Jair Bolsonaro said it was “historic” and “one of the most important trade deals of all time”.

In a statement, Brazil said the deal included eliminating tariffs on products such as orange juice, instant coffee and fruit, Reuters reported.

The Mercosur trade bloc consists of Argentina, Brazil, Uruguay and Paraguay.

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