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This book focuses on EU-MERCOSUR relations from a diplomatic and trade perspective against the background of the political agreement between the two in 2019. The authors take into consideration that EU-MERCOSUR cooperation developed during recent decades has tried, on the one hand, to build a strategic partnership to respond to the main challenges of international agendas and, on the other, to incorporate in Latin American countries the European new vision of transatlantic regionalism. Starting from a historical perspective of the development of interregionalism between the EU and MERCOSUR, the book goes on to study the geopolitical impacts of Brexit, stagnation of the EU-USA relationship, the COVID-19 pandemic, and of new geopolitical players in EU-LAC interregionalism. It discusses the legal institutional framework of the EU-MERCOSUR relations and provides a comparative view of features of MERCOSUR countries vis-a-vis the European Union. The book also analyses and provides a comprehensive overview of various aspects of interregional trade in the context of the 2019 agreement. Highly topical and authored by experts in this field, this book is of interest to a wide readership in the social sciences and economics: from political sociology to international relations, diplomacy studies and international trade.