EU-Mercosur trade deal takes provisional effect, boosting hopes and concerns for millions

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SAO PAULO (AP) — The long-awaited trade deal between South American bloc Mercosur and the European Union took effect Friday, at least provisionally. The initiative creates a trans-Atlantic market estimated at $22 trillion with 720 million potential consumers, and some nations expect to boost their exports by more than 10% by 2038, once it is fully implemented. The trade deal was signed Jan. 17 at a meeting of the South American group. European Commission President Ursula von der Leyen’s move to