On Thursday night, just before midnight, the Argentine Chamber of Deputies approved the EU-Mercosur trade agreement with a vote of 203 in favor and only 42 against; four deputies abstained from voting. This decision shows a significant division in what was previously a protectionist stance among the opposition, as even some members supported free trade. The agreement will next be debated in the Senate on the 26th of the month, where it is expected to pass, potentially making Argentina the first Mercosur country to completely ratify the treaty in its Congress, which is a key step for it to take effect immediately.

The Argentine government, under Javier Milei, aims to secure an advantageous position over Brazil by being the first to access export quotas for agricultural products, such as beef. This strategy is part of Milei's broader economic agenda to boost Argentina's economy by opening up trade opportunities and enhancing competitiveness. As the Senate prepares for its discussion, the implications of this agreement could pave the way for increased trade and economic ties between Argentina and Europe, setting a precedent for other Mercosur nations.

In Brazil, the discussion for ratification in the Chamber of Deputies is scheduled to begin on October 24, prompting concerns and anticipations about how this will affect Brazil's position within Mercosur and its trade relations with Argentina. The approval in Argentina could create a competitive disadvantage for Brazil if the latter does not act swiftly to move forward with its own ratification process, highlighting the complexities and strategic maneuvers at play in South American trade relations.