"Ursula von der Leyen, the President of the European Commission, defended the trade agreement signed between Mercosur and the European Union on Saturday in Paraguay. She did so in the face of threats from US President Donald Trump, who has threatened to impose tariffs on European countries if they defend Greenland against his plans to buy the island. "This agreement sends a very strong message to the world. It reflects a clear and deliberate choice. We choose fair trade over tariffs. We choose a productive long-term partnership over isolation," said von der Leyen. The European leader indicated that the agreement is "creating the largest free trade zone in the world," as it covers a market of 700 million people and represents approximately 20 per cent of the global GDP. Moreover, von der Leyen emphasised that one of the main benefits of the agreement is the creation of new jobs and opportunities for both countries. "It will provide a clear rules-based framework to encourage investment and trade to flow, and this will greatly benefit companies on both sides," she added. Maros Sefcovic, European Commissioner for Trade and Economic Security, signed the EU-Mercosur agreement. On behalf of Mercosur, it was signed by the foreign ministers of Paraguay, Argentina, Brazil, Uruguay, and Bolivia. Meanwhile, von der Leyen and the President of the European Council, Antonio Costa, attended as witnesses of honour, along with the presidents of Paraguay, Santiago Pena; Argentina, Javier Milei; and Uruguay, Yamandu Orsi. The Brazilian President, Luiz Inacio Lula da Silva, sent his minister as a delegate. The Mercosur-European Union agreement was finalised after more than 25 years of negotiations and provides for the gradual elimination of around 90 per cent of tariffs on goods and services over 15 years. Likewise, the EU opens trade to Mercosur agricultural products, while Mercosur opens markets to European machinery, cars, chemicals, and pharmaceuticals."