US, Argentina Advance New Trade Accord
Nations Expand Market Access and Strengthen Investment Ties
Key Takeaways:
- The U.S. and Argentina announced a deal on Nov. 13 to expand bilateral trade and investment cooperation and open markets for key goods.
- The agreement follows the U.S. move to provide $20 billion in financing to Argentina and includes commitments on pharmaceuticals, chemicals, machinery and beef access.
- Both countries said they will finalize the agreement text for signature as the U.S. also advanced separate trade frameworks with El Salvador and Ecuador.
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The U.S. and Argentina reached a deal to deepen “bilateral trade and investment cooperation,” the White House said Nov. 13 in a .
The accord is a boost to the South American country led by President Javier Milei, an ideological ally of Donald Trump.
“The countries will open their markets to each other on key products,” according to the White House statement that said Argentina would provide “preferential markets access for U.S. goods exports” including certain medicines, chemicals, machinery, information technology products, medical devices.
“The United States and Argentina will work expeditiously to finalize the text of the Agreement for signature and undertake their respective domestic formalities in advance of the Agreement entering into force,” the statement added.
The deal is part of a much bigger gamble from Trump on Argentina, after the U.S. rushed to provide$20 billion in financingand directly purchased pesos last month in a bid to help stem a currency selloff and help Milei’s party ahead of Oct. 26 midterm elections.
It also marks a political victory for Milei, who has positioned himself as one of Trump’s closest allies on the world stage.
The U.S. will also remove “reciprocal tariffs on certain unavailable natural resources and non-patented articles for use in pharmaceutical applications,” according to the White House.
The White House also said the “countries have committed to improved, reciprocal, bilateral market access conditions for trade in beef.”
The moves to ease trade in cattle come as the Trump administration is looking to provide relief to American consumers with wholesale beef prices surging in recent years after U.S. herds dwindled to their lowest level in decades and on the heels of elections in which Republicans suffered losses with an electorate increasingly focused on affordability.
The U.S. on Nov. 13 also announced frameworks for trade deals with El Salvador and Ecuador.
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