Argentina is actively negotiating with US officials to seek a reduction in US President Donald Trump's reciprocal tariffs, according to White House Trade Representative Jamieson Greer.
Speaking before the US Senate Finance Committee on Tuesday, Greer revealed that approximately 50 countries have approached the US seeking trade improvements.
Greer highlighted that “Argentina, Vietnam, India and Israel have indicated they will reduce their tariffs and non-tariff barriers in line with the President’s policy,” calling them “welcome developments.”
Greer acknowledged the longstanding nature of the US trade deficit, stating, "The persistent trade deficit has been building for more than 30 years, and it won’t be resolved overnight."
However, he emphasised that initiating negotiations with these countries represents "a step in the right direction."
Officials in President Javier Milei's government say initial discussions with the United States have centred on "harmonising tariffs" for a basket of around 50 products.
Speaking at an event at Trump’s Mar-a-Lago residence and resort in Florida last week, Milei ruled out retaliatory measures and said he is ready to change laws.
“Argentina is going to move forward to readjust the regulations so that we meet the requirements of the reciprocal tariffs proposal developed” by Trump, Milei said.
"We have already met nine of the 16 necessary requirements , and I have instructed my country's Foreign Ministry and Commerce Secretariat to move forward with the remaining requirements,” he said, speaking a day after Trump slapped 10-percent tariffs on Argentine goods entering the United States.
Addressing the prospect of a free-trade agreement with Argentina, Greer told the US Senate committee on Tuesday: "First and foremost, we are focused on addressing this emergency and the reciprocal tariffs to ensure they are properly implemented."
He underscored the necessity for stringent regulations concerning third countries in any trade agreements, expressing concern over potential exploitation of export platforms to incorporate goods from nations like China, which contribute significantly to the US trade deficit.
"Any changes to these agreements must be accompanied by changes to rules of origin, to ensure that the United States and American workers are genuinely benefiting," Greer warned.
Trump said Tuesday that his government is working on "tailored deals" with trading partners, with the White House saying it would prioritise allies such as Japan and South Korea, which were hit with tariffs of 24 percent and 25 percent, respectively.
At a dinner with fellow Republicans that evening, Trump claimed countries were "dying" to make a deal. “I’m telling you, these countries are calling us up kissing my ass,” he said.
During 2024, Argentina experienced a remarkable growth in its exports to the US, reaching a total of US$6.395 billion – an increase of 13.2 percent compared to the previous year. This increase contributed to Argentina's first trade surplus with the US in 18 years, with a positive balance of US$ 232 million.
The ongoing trade negotiations occur against a backdrop of global economic tensions stemming from President Trump's tariff policies. The measures have triggered significant market volatility and retaliatory actions from major trading partners, contributing to unrest and economic uncertainty.
– TIMES/NA/PERFIL
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