In early December, the European Union and Southern Common Market, better known as Mercosur, reached an agreement on a trade deal. This announcement represented the culmination of more than two decades of negotiations between the EU and Mercosur countries, which had progressed off and on since 1999.

In this episode, Ryan C. Berg sits down with Lauri Tähtinen, a non-resident senior associate with CSIS. Together, they discuss the history of the agreement and why it has finally come to fruition, as well as some of the remaining disputes that could continue to threaten the deal. They also discuss the geopolitical implications, particularly with respect to China and the new U.S. administration, of what will be the largest free trade area in the world.