A Second Trump Term Is Set to Scramble Trade Alliances NYT > U.S. > Politics By: Ana Swanson 6 December 2024 at 17:23 Europeβs new pact with South America, its largest deal to date, could be a sign of how countries will diversify trade relationships as Donald Trump threatens tariffs. Β© Jorge SaenzBarges used to transport soybeans in Paraguay, a member of the South American bloc that the European Union finalized a trade agreement with.