MercoPress. South Atlantic News Agency

US and Argentina set framework for reciprocal trade and investment agreement

Argentine Foreign Minister Pablo Quirno met with US Secretary of State Marco Rubio to celebrate the agreement

Presidents Donald J. Trump (United States) and Javier Milei (Argentina) announced on Thursday a “Framework for a Reciprocal Trade and Investment Agreement,” reaffirming a strategic alliance based on shared democratic values and a commitment to free enterprise and open markets.

The White House issued a joint statement on Thursday, detailing the agreement's goal to “promote long-term growth, expand opportunities, and create a transparent, rules-based environment for trade and innovation.” The pact leverages modernizing actions already taken by Argentina's government.

Argentine Foreign Minister Pablo Quirno met with US Secretary of State Marco Rubio to celebrate the sealing of the agreement, which the South American official hailed as creating conditions for increased US investment and bilateral trade. The Framework outlines commitments aimed at lowering barriers and aligning regulatory standards across various key sectors.

Among other things, preferential access for key US exports such as medicines, machinery, vehicles, technology, and certain agricultural products would be granted, followed by the elimination of tariffs on certain unavailable natural resources and non-patented articles for pharmaceutical use, and of import licenses and consular formalities for US goods, combined with a gradual elimination of the statistical fee on US items.

Argentina would also open up to US live cattle and allow access for US poultry within one year. Simplification of registration for US beef, pork, and dairy products is also provided for, amid improved, reciprocal bilateral market access conditions for beef trade.

The acceptance of US-manufactured vehicles based on US safety/emissions standards, as well as US FDA certificates for medical devices and pharmaceuticals, was also featured in the understanding.

In matters of digital trade, the US was recognized as an adequate jurisdiction for cross-border data transfer.

The agreement also includes broader commitments on economic policy to address potentially distortive actions by state-owned enterprises and industrial subsidies. Regarding critical minerals, cooperation is planned to facilitate investment and trade.

Both countries will also improve enforcement against counterfeit and pirated products and implement measures against illegal logging. Argentina also commits to addressing structural challenges in its Intellectual Property regime.

Speaking at an event in Corrientes shortly after the agreement was sealed, President Milei hailed the news and emphasized the benefits of market liberalization. “Today, the bilateral agreement with the United States was signed,” the President stated. “We are strongly committed to making Argentina great again.”

He underscored that the reforms his administration is promoting prioritize property rights and freedom, asserting that “everything is in place for us to leave populist barbarism behind and return to being a world power.”

Both nations have agreed to “work quickly to finalize the text of the Agreement for signature” and complete internal procedures before the agreement enters into force.