The Argentinian government has imposed a tariff on all exports, including steel products, according to a notice published this week at the country’s official gazette. The move aims to help Argentina meet its fiscal goals, following an increased devaluation of the Argentinian Peso (ARS) devaluation and a high public deficit.
US president Donald Trump backed the efforts of Argentinian president Mauricio Macri handling the nation’s economic crisis. He also supported Macri’s efforts to get International Monetary Fund (IMF) financing.
Argentina imposed a 12 percent tariff over “all products included in the Mercosur HTS codes.” Argentina said the tariff can’t exceed ARS 4 for each USD 1 exported for primary products, and ARS 3 for each USD 1 exported for finished products.
The tariffs are valid until December 2020, the Argentinian government said.