Global Economy News
LAST UPDATE: July 2, 2025
Mercosur, EFTA blocs finalize free-trade agreement, say sources
Mercosur and EFTA have finalized a free-trade agreement after years of negotiation. The deal is expected to be formally announced at a summit in Buenos Aires and will require ratification by all member countries.
Insight
The agreement represents progress in Mercosur’s global trade ambitions and may face fewer obstacles than the stalled EU-Mercosur deal. It also enhances ties between South America and EFTA countries with shared economic goals.
Quad ministers condemn April attack in Indian Kashmir without naming Pakistan
Quad foreign ministers condemned the April attack in Indian-administered Kashmir that killed 26 people. They called for justice but avoided naming Pakistan as the perpetrator.
Insight
The statement reflects growing alignment among Quad members on regional security while maintaining diplomatic neutrality. This balances support for India with the desire to avoid escalating tensions with Pakistan.
