Buenos Aires, Argentina – Argentina and the United States announced that they had reached an expanded trade agreement on Thursday, strengthening the position of Argentine President Javier Miley in his election campaign. Moves to open The South American country’s economy is notoriously protectionist and reflects the close alliance between the radical libertarian and US President Donald Trump.
Argentine Foreign Minister Pablo Cuerno posted a selfie on social media showing him and several Argentine diplomats beaming after leaving a meeting in Washington where he said they signed the agreement.
“Congratulations to our team and thank you to the USTR team for building this great agreement together,” Kernow wrote. The US Trade Representative’s Office also confirmed the deal.
Countries Announce the frame to the agreement last November, saying Argentina would ease restrictions on a range of US imports, including livestock, dairy products, medicines, chemicals, machinery, medical devices and vehicles. These were major concessions for Argentina, which has local industries It has long been protected by steep tariffs They expressed concern about their ability to compete with American manufacturers.
For its part, the United States will eliminate reciprocal tariffs on imports of “certain unavailable natural resources” and components of pharmaceutical goods from Argentina, according to the framework.
At that time, the White House I reached similar frameworks With Ecuador, Guatemala and El Salvador — as part of what it described as an effort to improve the ability of U.S. companies to sell industrial and agricultural products in Latin American countries and lower food prices for U.S. consumers.
Officials did not immediately provide details about the final version of the US-Argentine agreement signed on Thursday.
The agreement represents the latest developments in A close alliance between Trump and MilleyWho reshaped Argentine foreign policy To comply with the United StatesIt happened Trump praises stability His country’s economy is vulnerable to crises, and he has traveled to the United States more than a dozen times in the past two years. Miley is next scheduled to appear at Trump’s Mar-a-Lago club next week to speak at a party.
Trump supported Miley’s financial program last year With a line of credit worth $20 billion Which succeeded in calming the markets Boost Miley’s prospects In the decisive midterm elections last October. The US Treasury also directly purchased Argentine US dollar-denominated bonds that rating agencies classified as “numerous” at the time, and acquired the volatile local currency that Argentines were disposing of in droves.
The extraordinary intervention sparked violent reactions from across the American political spectrum.
Trump’s MAGA base has questioned the need to bail out a remote country that is not only of great importance to the United States but also competes directly with its exports of corn, wheat, meat and oil.
Democratic lawmakers expressed anger that Trump was betting taxpayer money on a political gift for his ideological friend.
These criticisms continued, as US Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, on Thursday pleaded with Treasury Secretary Scott Bessent to end the $20 billion lifeline.
She wrote in a letter that although the Treasury promised its line of credit to Argentina “was for an acute, short-term, and urgent purpose, it appears to have left open the possibility of continued use.”
___
Associated Press writer Josh Bock in Washington contributed to this report.