The report looked at how a trade agreement between the EU and Mercosur would affect different sectors. Two models were used to simulate the impacts: one looked at all sectors, while the other focused only on agriculture. The results showed that the EU's agricultural sector would face significant losses under the agreement, while gains in other sectors would be small. Overall, the EU's economy would see only minor changes in welfare. The terms requested by Mercosur would have a bigger negative impact on EU agriculture compared to the terms offered by the EU.