BUENOS AIRES, November 28, 2023 – A recent ruling by the U.S. Supreme Court regarding global tariffs has reignited focus on the trade agreement reached between Argentina and the United States in mid-November. While the Argentine goverment assures the deal is finalized, the specifics remain under wraps, leaving questions about its full impact.
Trade Deal Details Still Emerging
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The agreement promises preferential access for Argentine goods,but the Supreme Court’s tariff decision adds a layer of uncertainty.
- The U.S. Supreme Court’s decision on tariffs impacts international trade, including countries with existing trade frameworks like Argentina.
- The agreement between Argentina and the U.S.,announced November 13,aims to eliminate reciprocal tariffs and boost trade in various sectors.
- Details of the agreement remain undisclosed, creating suspense for Argentine companies and industry groups.
- Aluminum and beef are identified as key sectors that could benefit from tariff reductions.
The Supreme Court’s ruling concerns the tariff scheme announced by Donald Trump in April 2025, establishing a 10% floor on all imports. This decision will influence international trade dynamics and affect nations, including Argentina, that have negotiated preferential trade arrangements.
what’s in the Agreement?
Announced on November 13, the agreement between Javier Milei and Donald Trump proposes eliminating reciprocal tariffs and granting Argentina preferential access to a broad range of products. These include medicines, chemicals, machinery, technology, medical devices, automobiles, and agro-industrial goods. In return, the United States seeks reduced or eliminated tariffs on natural resources unavailable domestically and on unpatented pharmaceutical inputs.
Alejandro Cacacé, the Secretary of Deregulation, stated, “The fine print has already been negotiated and agreed; the signature is missing to be able to disseminate it.” He indicated that the list of covered goods is extensive, with many products perhaps receiving “zero tariffs.”
Argentina in a Favorable Position
Despite the general 10% tariff set by Washington remaining unchanged for Argentina, the country appears to be in a comparatively advantageous position relative to other regional partners. Brazil, for instance, faces a 50% tariff, reinforcing the Argentine government’s strategy of forging a stronger relationship with the White House.
The United States ranks as one of Argentina’s top three trading partners, trailing only Brazil and China. Bilateral trade exceeded US$13 billion between January and November, with Argentina holding a positive trade balance of over US$1 billion. Consequently, any alterations to the tariff regime could significantly impact key export sectors.
Key Sectors to Watch
Aluminum is a notably sensitive area. Trump’s tariff policies heavily targeted steel and aluminum, impacting companies like Aluar, which exports a substantial portion of its production. Given that the aluminum complex accounts for approximately 9% of Argentine exports to the U.S., eliminating tariffs would provide considerable relief to the sector.
Beef is another crucial component. While the U.S. market reopened to Argentine beef in 2018, it remains relatively underdeveloped. Exports were largely limited to an annual quota of 20,000 tariff-free tons until 2022. Expanding this access is seen as a key opportunity for the Argentine government to diversify export destinations and increase foreign exchange earnings.
Natural resources and “critical minerals” are also gaining prominence, particularly as Washington navigates a strategic dispute with China. The agreement aims to eliminate tariffs on inputs not produced in the U.S. and facilitate investments in mining and energy sectors.
Waiting for the Final signature
As the Argentine government awaits the final signatures from both Trump and Milei,companies and industry chambers remain in a state of anticipation due to the lack of detailed details. the U.S. court ruling could either expedite or influence the implementation of the agreement.For the Argentine government, this deal is a cornerstone of its international alignment strategy and its commitment to greater commercial openness in 2026.
