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Topic 123 · Summits, Conferences & Treaties

EU-Mercosur trade agreement signed

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Revise the 12 points first Book 1 RATNA

Core Trigger: The EU and Mercosur signed their partnership and trade agreement in Asuncion, Paraguay, on 17 January 2026.
Talks History: The signing closed negotiations that began in 1999, making them among the longest trade talks in history.
Current Head: Ursula von der Leyen is President of the European Commission.
Tariff Data: Tariffs fall on over 90 per cent of trade, some cuts phased over ten to fifteen years.
Mercosur Members: Brazil, Argentina, Paraguay, Uruguay and Bolivia are members; Venezuela is suspended.
Pending Steps: European Parliament consent and ratification by the Mercosur states are still needed before the agreement applies.
India Link: India is not a party, but the deal shapes competition and its own trade talks with both blocs.
Headquarters: Mercosur's secretariat is in Montevideo, Uruguay; the EU Commission sits in Brussels.
Founded: Mercosur was created by the Treaty of Asuncion in 1991.
Landmark: The Ouro Preto Protocol (1994) gave Mercosur international legal personality.
Articles: Entry 41, Union List covers foreign trade; Article 253 enables treaty implementation.
Definition: A free trade area cuts tariffs among members; a customs union adds a common external tariff, as Mercosur has.

Question 1 of 10

Where did the EU and Mercosur sign their agreement on 17 January 2026?

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Answer: (B) Asuncion, Paraguay

Core Trigger: The EU and Mercosur signed their partnership and trade agreement in Asuncion, Paraguay, on 17 January 2026.From Book 1 RATNA, topic 123, point 1

Question 2 of 10

In which year did the EU-Mercosur negotiations begin?

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Answer: (D) 1999

Talks History: The signing closed negotiations that began in 1999, making them among the longest trade talks in history.From Book 1 RATNA, topic 123, point 2

Question 3 of 10

Who is President of the European Commission?

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Answer: (D) Ursula von der Leyen

Current Head: Ursula von der Leyen is President of the European Commission.From Book 1 RATNA, topic 123, point 3

Question 4 of 10

Consider: 1. Tariffs fall on over 90 per cent of trade. 2. Some cuts are phased over ten to fifteen years. Which is correct?

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Answer: (C) Both 1 and 2

Tariff Data: Tariffs fall on over 90 per cent of trade, some cuts phased over ten to fifteen years.From Book 1 RATNA, topic 123, point 4

Question 5 of 10

Which Mercosur member is currently suspended?

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Answer: (A) Venezuela

Mercosur Members: Brazil, Argentina, Paraguay, Uruguay and Bolivia are members; Venezuela is suspended.From Book 1 RATNA, topic 123, point 5

Question 6 of 10

What is still needed before the EU-Mercosur agreement applies?

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Answer: (D) Consent of the European Parliament

Pending Steps: European Parliament consent and ratification by the Mercosur states are still needed before the agreement applies.From Book 1 RATNA, topic 123, point 6

Question 7 of 10

Where is Mercosur's secretariat located?

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Answer: (B) Montevideo, Uruguay

Headquarters: Mercosur's secretariat is in Montevideo, Uruguay; the EU Commission sits in Brussels.From Book 1 RATNA, topic 123, point 8

Question 8 of 10

Mercosur was created by the Treaty of Asuncion in which year?

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Founded: Mercosur was created by the Treaty of Asuncion in 1991.From Book 1 RATNA, topic 123, point 9

Question 9 of 10

The Ouro Preto Protocol (1994) gave Mercosur what?

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Answer: (D) International legal personality

Landmark: The Ouro Preto Protocol (1994) gave Mercosur international legal personality.From Book 1 RATNA, topic 123, point 10

Question 10 of 10

Consider: 1. A customs union adds a common external tariff. 2. India is a party to the EU-Mercosur agreement. Which is correct?

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Answer: (A) Only 1

Definition: A free trade area cuts tariffs among members; a customs union adds a common external tariff, as Mercosur has.From Book 1 RATNA, topic 123, point 12

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