Argentina out from the list of US taxes on steel and aluminum
In this way, the announcement made by President Trump that he would tax steel and aluminum of the South American country due to the strong devaluation
Argentina was exempt from the taxes that the United States government will impose on a list of countries as a sanction measure for this year 2020, as the Argentine Foreign Minister Felipe Solá reported last Sunday.
The reversal of the measure, which had not yet been implemented, is “excellent news for Argentina,” said Solá, after ensuring that its imposition “meant a huge loss of jobs.” For his part, he said in an interview with Radio 10: “We have just been left aside, in a good way, by an internal communication from the United States presidency regarding this issue. The list of countries that would be sanctioned has come out and Argentina is not there.”
On December 2, President Trump announced, through a series of tweets, that he would tax aluminum and steel imported from Brazil and Argentina, claiming that both countries “have strongly devalued their currencies, which is not good for our farmers … Therefore, with immediate validity, I will restore the rates of all steel and aluminum sent to the United States from those countries.”
However, the announcement was without effect only for Argentina and subsequently informed journalists in the White House that “I gave them a great pause in relation to tariffs…. It is very unfair to our manufacturers and to our farmers.”
It is important to mention that the United States is the main destination of Argentine steel and aluminum exports and according to official data represents a market of 700 million dollars.
K.Villarroel
Source: bancaynegocios
