European countries and South American countries will sign a big trade deal. This is a free trade agreement. It is with Mercosur. Mercosur is a group of countries in South America. The deal is after many years of talking. It will be the biggest trade deal for Europe. Cyprus said it is a "historic milestone."
Mercosur countries will pay less tax on goods from Europe. This will be for 91% of goods. It will take fifteen years. Europe will also pay less tax on goods from South America. This will be for 92% of goods. It will take ten years. People think this deal will make more business. It will also make trade fair.
Most European countries voted yes. Twenty-one countries said yes. But five countries had worries. Austria, France, Hungary, Ireland, and Poland did not like it. Belgium did not vote. Many countries voted yes. The European Commission helped with the talks.
This deal is not just about money. It helps trade between countries. The President of Brazil said it is important now. The deal also helps with trade with the US. It will help Europe get materials. This means Europe will not need China as much.
Cyprus hopes to sell more wine and cheese. Its ships may also do more work. But some farmers in Cyprus may have more problems. This is for meat. The deal has rules to help if too many things come in.
The trade deal is not done yet. The European Parliament must also say yes. Some country parliaments may need to vote. More talks are expected. The deal has special rules for things like meat and cheese.