Stagnated trade deals and dwindling intra-bloc commerce have put Mercosur in a deadlock that is further compounded by structural discrepancies and growing political divergence, which will likely result in just minor rule changes to prevent the dissolution of South America's largest trade bloc. Paraguayan President Santiago Pena hosted Mercosur's presidential summit on July 8, which marked the end of his country's six-month rotating presidency. The meeting's main topic was the accession of Bolivia as a permanent member of the bloc, which comprises Argentina, Brazil, Paraguay and Uruguay. However, Argentine President Javier Milei's absence was the most notable political development of the event, not only for being the first time a president had skipped such a meeting in 23 years, but also because Milei has heavily criticized Mercosur and has hinted at withdrawing Argentina from the bloc. The summit's joint statement was also delayed due to Argentina's opposition to language related...
