There have been discussions regarding establishing a Free-Trade agreement between the European Union and Mercosur (Argentina, Brazil, Paraguay, and Uruguay)."The agreement would create the largest free-trade zone in the world, cut tariffs for manyproducts, and simplify customs procedures. For the EU, this means more exports in spheres like machinery, automobiles and pharmaceuticals, while Mercosur countries would export more meat, poultry, sugar and other agricultural products to the European single market." Discuss gains and losses experienced by the citizens of the Mercosur. need to apply trade theories: Heckscher-Ohlin Theory or Stolper-Samuelson Theory or Factor-Price Equalization Theory)