Argentina to gradually eliminate taxes on some industrial exports
Argentina's Ministry of Economy announced, via a decree signed by President Javier Milei, that it will gradually eliminate taxes on industrial exports including automotive, machinery and electronics by 2027. The move was unveiled in line with an additional target under the $20 billion IMF programme.
Investing.com Europe, citing AFP, reported that Argentina's Economy Minister Luis Caputo said at the ministry building that export taxes ('derechos de exportación') on industrial goods will be removed in three stages by end-2027. The first stage takes effect on 1 June 2026, lowering the duty on automotive and machinery from 4.5% to 3%; electronics will be reduced to 2% on 1 September. Agricultural-product taxes are not part of the package.
Economist Eduardo Levy Yeyati from the San Andrés University, close to the Milei administration, told Investing.com Europe that 'gradually removing industrial export taxes is reasonable for the president's domestic-savings margin and critical for export capacity'. Within an hour of the decree's publication, industrial federation UIA said the measure 'will strengthen our members' access to foreign markets'. The Buenos Aires MERVAL index gained 2.1% intraday after the announcement; carmaker Toyota Argentina said it intends to increase export volumes 14% in the second half.
The IMF mission to Buenos Aires from 9 to 13 June will treat additional export revenue as its lead programme-review item. Goldman Sachs Latin America economist Alberto Ramos estimated the package would 'narrow the current-account deficit by about $1.3 billion per year'. On the other side, CGT union president Pablo Moyano said 'there is a risk industrial competitiveness will pass through into wages'; opposition Unión por la Patria deputy Cecilia Moreau said they will open a Congressional oversight channel.
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