Monthly Digest
February 2026
Brazil completes its ratification of the EU-Mercosur agreement, moving the deal toward provisional application.
Brazil ratifies the EU-Mercosur agreement
On February 25, 2026, Brazil completed its internal ratification of the EU-Mercosur Partnership Agreement (EMPA), signed in Asunción on January 17. Brazil was the first Mercosur member to finish the process; Paraguay followed in March, completing ratification on the Mercosur side.
- Ratification keeps the agreement on track for provisional application of the trade pillar on May 1, 2026.
- For exporters, the practical effect — phased elimination of import duties on most EU-origin industrial goods — begins with provisional application, not ratification itself.
- On the EU side, the interim Trade Agreement requires approval by qualified majority in the Council and the consent of the European Parliament.
Follow the category-by-category tariff phase-out on our EU-Mercosur tracker.
GECEX tariff adjustments
GECEX continued routine amendments to the Common External Tariff (TEC) annexes of Resolução GECEX nº 272/2021. For example, Resolução GECEX nº 865/2026 (Feb 24, 2026) amended Annex IX, affecting certain steel products (HS 7208). Importers of steel and base metals should confirm the live rate before declaring — the HS → NCM lookup reflects current published rates.