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EU and South American bloc close to finalising Mercosur trade deal

European Commission president Ursula von der Leyen expected to head to Uruguay for summit this week

The EU and South American countries are close to clinching a long-delayed trade deal as European Commission president Ursula von der Leyen flies to Uruguay for the Mercosur summit this week.

Two officials said von der Leyen would head to Montevideo in the next 48 hours with the intention of finalising the agreement despite fierce opposition from French President Emmanuel Macron, who has attacked its potential impact on farmers and the environment

Brussels is determined to open new markets for its carmakers and other industrial companies as they struggle with cheap Chinese competition and the threat of tariffs from US president-elect Donald Trump.

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