Swiss upper house approves Mercosur trade deal, $646M farmer aid

Switzerland's Council of States approved the Mercosur trade agreement 31-7, reversing the lower house's earlier rejection and signaling a shift in Swiss trade policy toward South America. The deal includes $646 million in support for domestic farmers to mitigate competitive pressures. Approval by the upper house increases the likelihood of ratification, though the lower house's prior opposition leaves final adoption uncertain.