The talks between the European Union and Mercosur will likely extend into next year after European negotiators said they needed more time to respond to improved offers, a source from Mercosur negotiators said on Tuesday.
Argentine president Mauricio Macri who has made signing trade deals a priority, said he was optimistic that Mercosur, the trade bloc formed by Argentina, Brazil, Paraguay and Uruguay, would be able to conclude a free trade deal with the European Union by year-end despite differences over beef, ethanol and other agribusiness matters.