Argentina and US sign a major trade deal to slash tariffs and boost a political alliance

[BA Bound]

Argentina and US sign a major trade deal to slash tariffs and boost a political alliance

Argentina and the United States agreed Thursday to ease restrictions on each other's goods in an expansive trade and investment deal that boosts a drive by President Javier Milei's government to open ...

www.yahoo.com

 

[Edmonton]

Saw that in the NYT.

Argentina and U.S. Sign Sweeping Trade Deal as Alliance Deepens

The deal reduces reciprocal tariffs and expands quotas for key trading goods, including Argentine beef — a flashpoint for American ranchers.

www.nytimes.com

 

[lark]

Saw that in the NYT.

Argentina and U.S. Sign Sweeping Trade Deal as Alliance Deepens

The deal reduces reciprocal tariffs and expands quotas for key trading goods, including Argentine beef — a flashpoint for American ranchers.

www.nytimes.com

I wonder how this will work out for the 200 American products coming in. It sounds like those industries are also going to get gutted. No wonder all of these car companies are saying they will shut down production. It sounds like USA made vehicles are included in this deal.

What are the 1,600 Argentine products I wonder? Seems like all the manufacturing is all going out of business so unless American companies buy these bankrupt Argentine companies there isn't going to be many products to buy. And these American investments won't come unless the labor and tax system is fixed. It sounds like the USA is getting the better deal out of this vs. Argentina. Although the Argentine consumers will win with lower prices.


Argentina will eliminate tariffs for over 200 American products, the Argentine foreign ministry said in a statement, including machinery, transport equipment and pharmaceutical and chemical products. Argentine industrialists, long shielded by sweeping trade protections, have expressed concern over competing with imports, while free-trade supporters argue it is time for Argentina to open up.

Mr. Quirno announced that the United States would eliminate reciprocal tariffs for over 1,600 Argentine products. The deal is also meant to attract greater American investment in Argentina, a priority for the Milei administration to help the country grow and attract U.S. dollars.

 

[bapal]

I wonder how this will work out for the 200 American products coming in. It sounds like those industries are also going to get gutted. No wonder all of these car companies are saying they will shut down production. It sounds like USA made vehicles are included in this deal.

What are the 1,600 Argentine products I wonder? Seems like all the manufacturing is all going out of business so unless American companies buy these bankrupt Argentine companies there isn't going to be many products to buy. And these American investments won't come unless the labor and tax system is fixed. It sounds like the USA is getting the better deal out of this vs. Argentina. Although the Argentine consumers will win with lower prices.


Argentina will eliminate tariffs for over 200 American products, the Argentine foreign ministry said in a statement, including machinery, transport equipment and pharmaceutical and chemical products. Argentine industrialists, long shielded by sweeping trade protections, have expressed concern over competing with imports, while free-trade supporters argue it is time for Argentina to open up.

Mr. Quirno announced that the United States would eliminate reciprocal tariffs for over 1,600 Argentine products. The deal is also meant to attract greater American investment in Argentina, a priority for the Milei administration to help the country grow and attract U.S. dollars.

The current govt is on it, that it, to lower the taxes and bring out labor reform. It is not "if" but "when": these will occur, so FDIs start pouring in...

 

[Finance Prof]

The current govt is on it, that it, to lower the taxes and bring out labor reform. It is not "if" but "when": these will occur, so FDIs start pouring in...

Let's hope they do because if they can't fix the employment law problem it wouldn't make sense for any American company to make anything here. Argentine employees are a pain in the ass and the laws are terrible. Most employers deal with lawsuits.

Ultimately it might just come down to the ultimate combination of change in labor laws and if not, robots replacing all of these employees. That is Elon Musk's plan. Probably in 10-15 years robots are going to replace most factory workers around the world.

 

[bapal]

Let's hope they do because if they can't fix the employment law problem it wouldn't make sense for any American company to make anything here. Argentine employees are a pain in the ass and the laws are terrible. Most employers deal with lawsuits.

Ultimately it might just come down to the ultimate combination of change in labor laws and if not, robots replacing all of these employees. That is Elon Musk's plan. Probably in 10-15 years robots are going to replace most factory workers around the world.

Your name checks out! 😀

Could not agree more!

 

[Johnny]

Let's hope they do because if they can't fix the employment law problem it wouldn't make sense for any American company to make anything here. Argentine employees are a pain in the ass and the laws are terrible. Most employers deal with lawsuits.

Ultimately it might just come down to the ultimate combination of change in labor laws and if not, robots replacing all of these employees. That is Elon Musk's plan. Probably in 10-15 years robots are going to replace most factory workers around the world.

Correct! Tesla is getting ready to stop the Model S and Model X production in the USA and gearing up to make robots instead so that tells you where things are heading. Hopefully it leads to cheaper prices on things. My wife already told me to order one to clean the house. Our maid is too expensive!

 

[Wally]

The current govt is on it, that it, to lower the taxes and bring out labor reform. It is not "if" but "when": these will occur, so FDIs start pouring in...

Easier said than done. Labor laws here are terrible. This is a good life example of it. This employee was late 344 times to work and she finally was fired and she is suing her employer. My wife's family owes about 6 companies here between her parents and siblings. The # of lawsuits is ridiculous. No matter what employees like to sue.

 

[Uncle Wong]

Easier said than done. Labor laws here are terrible. This is a good life example of it. This employee was late 344 times to work and she finally was fired and she is suing her employer. My wife's family owes about 6 companies here between her parents and siblings. The # of lawsuits is ridiculous. No matter what employees like to sue.

Can't they blackball people like this and make some national registry so other employers know? The nerve of this girl. She isn't even ashamed and on social media? I guess that tells us how bad the laws are for her to be confident she will win. Anyone else would be totally embarrassed.

 

[Nasdaq]

Can't they blackball people like this and make some national registry so other employers know? The nerve of this girl. She isn't even ashamed and on social media? I guess that tells us how bad the laws are for her to be confident she will win. Anyone else would be totally embarrassed.

It isn't this female but she seems like she is an attorney representing a client. I have many friends that own businesses here and they all complain. All are praying that this labor reform bill will pass. If not, no chance of international companies coming. In fact, many are pulling out right now or planning to no matter what happens even with labor reform. Carrefour is throwing in the towel and want out of Argentina at any cost. I have friends that work for corporate.

The dynamics no longer work in Argentina for many companies. For whatever things Milei is fixing other things are breaking. Costs might go down with imports and taxes but look at the % increases in everything else. People tell me rental rates are going up quickly. Any business that has an expiring long term lease is leaving because they can't make enough. Utility rates have rocketed up and they continue to go up. Salaries have gone up.

The rental rates for businesses the past few decades have been very low and utilities were extremely low. Now rates for electricity are approaching rates of first world countries and Argentina is far from a first world country. And even the cheap stuff out of China won't last cheap forever. No one is having kids there either. But I guess robots will be taking their places and China will probably out innovate the USA when it comes to that.

We can't even compete with their electric vehicles. Even Tesla is throwing in the towels on their higher end luxury vehicles. They can't compete with China.

 

[ElQueso]

It isn't this female but she seems like she is an attorney representing a client. I have many friends that own businesses here and they all complain. All are praying that this labor reform bill will pass. If not, no chance of international companies coming. In fact, many are pulling out right now or planning to no matter what happens even with labor reform. Carrefour is throwing in the towel and want out of Argentina at any cost. I have friends that work for corporate.

The dynamics no longer work in Argentina for many companies. For whatever things Milei is fixing other things are breaking. Costs might go down with imports and taxes but look at the % increases in everything else. People tell me rental rates are going up quickly. Any business that has an expiring long term lease is leaving because they can't make enough. Utility rates have rocketed up and they continue to go up. Salaries have gone up.

The rental rates for businesses the past few decades have been very low and utilities were extremely low. Now rates for electricity are approaching rates of first world countries and Argentina is far from a first world country. And even the cheap stuff out of China won't last cheap forever. No one is having kids there either. But I guess robots will be taking their places and China will probably out innovate the USA when it comes to that.

We can't even compete with their electric vehicles. Even Tesla is throwing in the towels on their higher end luxury vehicles. They can't compete with China.

China is dominating in energy production, technology, robotics. I think in the future whoever dominates energy is going to dominate period. Saw this video and reminds me of the USA and China. USA thinks it's all hot sh*t but this is what China will do in the future.

 

[Uncle Wong]

China is dominating in energy production, technology, robotics. I think in the future whoever dominates energy is going to dominate period. Saw this video and reminds me of the USA and China. USA thinks it's all hot sh*t but this is what China will do in the future.

That is hilarious! I agree the USA (Trump) thinks he is too high and mighty. It would be funny to see someone do that to him. Agree with you that energy is going to be very important in the future.

 

[Uncle Wong]

The dynamics no longer work in Argentina for many companies. For whatever things Milei is fixing other things are breaking. Costs might go down with imports and taxes but look at the % increases in everything else. People tell me rental rates are going up quickly. Any business that has an expiring long term lease is leaving because they can't make enough. Utility rates have rocketed up and they continue to go up. Salaries have gone up.

The rental rates for businesses the past few decades have been very low and utilities were extremely low. Now rates for electricity are approaching rates of first world countries and Argentina is far from a first world country. And even the cheap stuff out of China won't last cheap forever. No one is having kids there either. But I guess robots will be taking their places and China will probably out innovate the USA when it comes to that.

I am hearing this more and more. I see and hear about many losing their jobs in many different industries. I wonder is there going to be enough job creation to make up for these job losses? If so, where? I know a few that have been out of work 4 months now.

Also haven't they gone overboard with utility rate increases? Understood they needed to raise them but it seems like they are going to increase them too much too soon. Isn't 400% enough in 2 years?