As the European Union struggles to complete a trade deal with Mercosur, competitors eyeing South America’s consumer market and vast mineral resources are taking note.

Spurred by US President Donald Trump’s tariffs, talks between the South American bloc and partners such as United Arab Emirates, Canada and India are gaining renewed importance while a divided EU wavers after more than a quarter-century of talks. The prospect of rivals locking in preferential access to Mercosur’s markets – including critical minerals –

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