By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. December 16, 2024. Article no 1338.
Argentine President Javier Milei has committed to pursuing a free trade agreement with the United States next year, with specific plans tied to potential changes in U.S. leadership. Key details of his trade strategy include:
- Milei plans to seek a free trade agreement with the United States, particularly after Donald Trump’s potential return to office.
- He aims to increase the autonomy of Mercosur members in making international trade deals.
- Milei has described Mercosur as a “prison” and wants to boost members’ ability to negotiate independently.
The libertarian president’s trade ambitions are part of a broader economic liberalization agenda, which includes:
- Eliminating capital controls ;
- Reducing national taxation by 90 percent ;
- Allowing people to use multiple currencies in transactions ;
- Cut public spending ;
Milei sees this approach as crucial to Argentina’s economic revival, promising “happy times” ahead and projecting fierce economic growth through trade liberalization and reduced bureaucratic restrictions.
The U.S. has shown openness to deepening bilateral relations, with recent meetings under the U.S.-Argentina Trade and Investment Framework Agreement (TIFA) discussing potential cooperation in areas like critical minerals, digital economy, and supply chain resilience.
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In 2022, two-way trade in goods and services between the United States and Argentina totaled an estimated $29.3 billion.
Argentina has achieved a historic milestone by eliminating its fiscal deficit for the first time in 123 years, a significant announcement made by President Javier Milei. This achievement is attributed to several aggressive economic reforms and austerity measures implemented since he took office one year ago.
Argentina’s monthly inflation rate slowed to 2.4% in November, the lowest in over four years, the official INDEC statistics agency said on Wednesday. Inflation already slowed to 2.7% in October. This is a win for the libertarian government of President Javier Milei who came to power almost a year ago promising to pull Argentina out of a dire economic crisis. When he took office in December 2023, monthly inflation surged to 25%.
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© Copyright 2024 – Eurasia Business News. Article no. 1336.
Eurasia Business News 