In accordance with the agreement announced on Friday, June 28, Europeans will reduce tariffs on a number of agricultural products from the trading block of the South American Mercosur countries, including beef, poultry, pork, sugar, cheese and honey, in accordance with certain conditions.

Brussels said the European Union agreed to reduce barriers to 82 percent of imports of agricultural products from the Mercosur block during the transition period to 10 years, adding that the European Union also proposed “more partial obligations”, including quotas for more sensitive agricultural products.

Regarding beef, Brussels said the agreement would allow the European Union to import 99,000 tons of Mercosur per year at a tariff of 7.5%.

The agreement also allows the import of 180,000 tons of poultry meat from Mercosur "duty free", as well as 25,000 tons of pork with a duty of 83 euros per ton, in accordance with the terms of the agreement, which, according to Brussels, will be implemented in stages.

Brazilian President Jair Bolsonaro said it could take up to three years to fully implement the agreement and that legislative approval of all countries involved would be required.