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U.S.–Argentina Trade Framework Announced, Key Terms Still Secret

Opportunity is tempered by uncertainty because the balance and Mercosur fit cannot be judged until the fine print emerges.

Overview

  • Washington and Buenos Aires issued a joint statement on a reciprocal trade-and-investment framework, with U.S. authorities keeping the detailed concession lists and regulatory terms confidential for now.
  • The rollout is paired with financial backing that includes an activated $20 billion currency swap and signals of investment interest, notably around critical minerals.
  • According to the U.S. summary, Argentina plans preferential access and fewer non-tariff barriers for medicines, chemicals, machinery, IT, medical devices, vehicles and agricultural goods, while U.S. concessions appear narrower, focused on certain unavailable resources and non‑patented pharmaceutical inputs.
  • Major business groups welcomed the direction but urged caution, with exporters warning about asymmetry, unclear treatment of U.S. Section 232 tariffs on steel and aluminum, and possible conflicts with Mercosur obligations.
  • Sector-specific impacts remain uncertain: officials tout expanded beef access with figures such as 80,000 tonnes discussed but not finalized, and economist Martín Redrado labels the pact commercially imbalanced yet potentially promising for investment.