Ambassador Confirms Advanced Trade Talks
Alec Oxenford, Argentina's ambassador to Washington, has confirmed that a 'significant' bilateral trade agreement with the United States is in its final stages, with an announcement anticipated 'very soon'. Speaking in a radio interview, Oxenford stated that while he is bound by a confidentiality agreement, the accord is 'extremely important' and represents the culmination of 'a very significant collective effort in Buenos Aires and Washington, marking a before and after in cooperation between the two countries'.
Key Details Emerge from Negotiations
The impending agreement was reportedly finalized during a recent meeting between Donald Trump and Argentine President Javier Milei. Reports suggest that the deal could see 100 Argentine products benefit from a 0% tariff, in exchange for Argentina eliminating tariffs and import barriers on U.S. goods. This comes after the United States imposed a general 10% tariff on all imports, including those from Argentina, as of April 5, 2025, with higher tariffs on aluminum and steel.
Economic Context and Bilateral Trade
The United States stands as Argentina's third-largest trading partner. In 2024, the total trade in goods and services between the two nations was estimated at $26.3 billion. The U.S. has consistently maintained a trade surplus with Argentina, reaching $6.64 billion in 2024. Key Argentine exports to the U.S. include:
- Crude Petroleum
- Gold
- Raw Aluminium
- Refined Petroleum
- Vaccines
- Ethylene Polymers
Broader Implications and Financial Support
Beyond the trade agreement, there have been discussions regarding broader financial support for Argentina. This includes a potential $20 billion currency swap arrangement and a separate $20 billion facility aimed at investing in Argentina's sovereign debt. These developments underscore a renewed focus on strengthening economic ties and cooperation between the two countries.
9 Comments
BuggaBoom
This deal could indeed mark a new chapter for US-Argentina relations and provide much-needed economic stimulus for Argentina. However, the substantial financial support mentioned, including currency swaps and debt investment, could also imply increased financial dependency rather than pure partnership.
KittyKat
Eliminating tariffs on US goods will hurt local Argentine industries.
Noir Black
Milei's push for market integration is evident here, and a trade deal can certainly stimulate economic activity. But the article doesn't fully clarify how Argentina's elimination of import barriers will protect its own producers from a flood of cheaper US goods.
Eugene Alta
Excellent step towards global economic integration. More trade, more prosperity.
Coccinella
Milei delivering on his promises! This is huge for Argentina's economy.
ytkonos
Finally, some sensible trade policy. Boosts exports and cooperation.
KittyKat
"Significant" for whom? US already has a massive trade surplus.
dedus mopedus
The promise of 0% tariffs for Argentine products is a clear benefit, potentially boosting their exports significantly. Yet, the emphasis on a deal finalized with Trump raises questions about its long-term stability and whether it truly serves Argentina's best interests beyond immediate gains.
BuggaBoom
Trump involved? This sounds like a bad deal for Argentina's sovereignty.