Despite EU and Mercosur countries remaining committed to reaching a trade agreement, the European Commission did not endorse the South American bloc’s target to reach an agreement by September, as substantial gaps remain between the two sides.

Last week, Argentine Foreign Minister Jorge Faurie said in Brussels that a political agreement could be signed by September.

“We will be negotiating until the end of July before returning to Brussels in late August with a view to signing a political agreement,” Faurie said, following two days of talks between EU trade boss Cecilia Malmström and Mercosur ministers.

But a Commission spokesperson said today (23 July) that “it is too early to say when a political deal could be reached”.

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