Amid Trump's tariff hikes, Milei reduces export taxes on meat and grains.
Argentina, led by Milei and ideologically aligned with Trump, is negotiating with the US for exemptions on up to 80% of its products.
247 - Argentina's president, Javier Milei, announced on Saturday (26) a reduction in export taxes on poultry and beef, soy and derivatives, corn, sorghum and sunflower, a measure requested by the country's agricultural sector.
According to Reuters, Milei stated that the announced reductions will be permanent and "will result in a 20% reduction in export taxes for grain supply chains; and a 26% reduction in export taxes for livestock and meat."
The statement comes amid US President Donald Trump's global tariff hikes. Argentina, led by Milei, a far-right ally of Trump, is negotiating with the US for exemptions on up to 80% of its products. Buenos Aires has achieved diplomatic advances that indicate preferential treatment.
Taxes on poultry and beef will be reduced from 6,75% to 5%; those on corn will be reduced from 12% to 9,5%; those on sorghum will be reduced from 12% to 9,5%. Withholding taxes on sunflower will decrease from 7,5% to 5,5%, withholding taxes on soybeans from 33% to 26%, and those on soybean byproducts from 31% to 24,5%, Milei said.
"The tax reduction will benefit not only the countryside, but the entire economy," Milei said in a speech at the opening of the exhibition at the Argentine Rural Society (SRA).
"We seek to boost the agricultural sector, which has been severely punished by these taxes over the last 20 years," he noted, adding that "eliminating withholding taxes is an obsession of our administration, and we have made significant progress in that direction."
"It's important to keep in mind that this (tax reduction) is due exclusively to the fiscal surplus we achieved, which we protected like water in the desert against the systematic attacks of the political class," said Milei.
