The White House reported in a short statement this Thursday that the United States and Argentina have signed an agreement to deepen “bilateral cooperation in trade and investment.” The deal is a boost for the South American country, led by President Javier Milei, an ideological ally of Donald Trump.
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“The two countries will open their markets to each other in key products,” a statement posted on the White House’s official website said, adding that Argentina would grant “preferential market access for exports of U.S. products,” including certain pharmaceuticals, chemicals, machinery, information technology products and medical equipment.
“The United States and Argentina will work expeditiously to finalize the text of the agreement for signature and complete their respective domestic procedures before the treaty enters into force,” the statement added.
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The agreement is part of President Trump’s even bigger bet on Argentina, after the United States rushed in last month to provide $20 billion in funding, in addition to direct purchases of Argentine pesos, to stem the currency’s decline and support Mr. Milley’s party ahead of the Oct. 26 parliamentary elections.
The deal also represents a political victory for Milley, who has positioned herself as one of President Trump’s closest allies on the international stage.
The United States will also eliminate “reciprocal tariffs on certain unobtainable natural resources and unpatented goods used for pharmaceutical applications,” according to the White House.
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The White House also reported that “the two countries committed to mutually improving the terms of bilateral access to beef trade markets.”
The move to boost the U.S. beef trade comes as the Trump administration seeks to lower costs for U.S. consumers, after the wholesale price of beef has soared in recent years as the U.S. cattle herd has shrunk to its lowest level in decades, and after an election loss for the Republican Party amid growing voter concerns about affordability.
The United States also announced framework agreements for trade treaties with El Salvador, Guatemala, and Ecuador this Thursday.
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